The bill amends Section 35-16-2 of the General Laws regarding the schedule for Revenue Estimating Conferences (R.E.C.). It changes the meeting timeframe from the "first ten (10) days of May" to the "last ten (10) days of April and the first ten (10) days of November" each year. This adjustment aims to enhance the timing of economic forecasts and revenue estimates.

The bill specifies that the principals of the R.E.C. shall meet during the newly established timeframe. It clarifies that the primary purpose of these conferences is to prepare economic forecasts and review current revenue collections. Additionally, discussions on special legislation or topics may occur if agreed upon by the principals. The bill emphasizes that no votes will be taken during these conferences, as they are intended to be consensus-driven, with all principals bound to the recommendations made. The act will take effect upon its passage.

Statutes affected:
5142: 35-16-2