"Long-Term Budget Outlook Act"; requires State Treasurer to prepare and submit annual multi-year fiscal outlook analysis report.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
The Long-Term Budget Outlook Act requires the State Treasurer to annually prepare and submit a multi-year fiscal outlook analysis report to the Governor and the Legislature. This report will project the state’s budget trajectory over the next three fiscal years, including anticipated revenues, appropriations, and potential structural deficits under optimistic, pessimistic, and baseline economic scenarios. The analysis must use a ‘current services’ budgeting approach and explain the underlying assumptions and methods used in the projections.
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