This bill amends Section 35-16-2 of the General Laws to change the timeframe of the Revenue Estimating Conferences (R.E.C.) meetings. Currently, the principals of the R.E.C. meet within the first ten days of May and November each year. The bill would change this to the last ten days of April and the first ten days of November each year. The purpose of these conferences is to prepare economic forecasts and forecast revenue estimates, as well as review current revenue collections under current tax law. The bill also states that no votes will be taken in the revenue estimating conferences and that all principals must agree and are bound to the conference recommendations. This bill would take effect upon passage.

Statutes affected:
5142: 35-16-2