This bill amends the Legislative Council Act of 1986 by updating sections 502 and 602, which pertain to the fiscal analysis required for bills scheduled for hearings in the Senate and House of Representatives, respectively. The amendments specify that the fiscal analysis must include a summary of the changes the bill would make to existing law, an estimate of the potential impact on governmental revenues and expenditures, and an assessment of the direct and indirect costs that local units of government may incur as a result of compliance with the bill. Additionally, the analysis must consider the effects on federal funding if applicable.

The bill also modifies the structure of the fiscal analysis by replacing certain subsections with new insertions that clarify the requirements for the analysis. For instance, it emphasizes the need for consultations with local government representatives to accurately estimate costs. The revised analyses must be made available to the public and the committee clerks, ensuring transparency in the legislative process. Overall, these changes aim to enhance the quality and comprehensiveness of fiscal analyses for proposed legislation.

Statutes affected:
House Introduced Bill: 4.1502, 4.1602