Fiscal impact statement

From Ballotpedia

A fiscal impact statement is a statement, usually prepared by an official government agency, that estimates how much money a proposed initiative or ballot measure would cost a state's treasury if it were to be approved by that state's voters.

States that have a formal procedure requiring one of the state's government agencies to prepare a fiscal statement for ballot initiatives are:

• Alaska. In Alaska,^[1] "an estimate of the cost to the state of implementing the proposed law" is a legally mandated part of the initiative petition booklets that are distributed for signatures.

• California. If the California Attorney General determines that the measure requires a fiscal analysis, the Department of Finance and the Joint Legislative Budget Committee are asked to prepare an analysis within 25 working days from receipt of the final version of the proposed initiative. The fiscal analysis estimates the increase or decrease in revenues or costs to the state or local government.

• Florida. In Florida, a commission known as the Financial Impact Estimating Conference completes a financial impact statement to be placed on the ballot of the estimated increase or decrease in any revenues or costs to state or local governments resulting from the proposed initiative.

• Missouri

• Montana. In Montana, "If the proposed ballot issue has an effect on the revenue, expenditures, or fiscal liability of the state, the attorney general shall order a fiscal note incorporating an estimate of the effect, the substance of which must substantially comply with the provisions of 5-4-205. The budget director, in cooperation with the agency or agencies affected by the ballot issue, is responsible for preparing the fiscal note and shall return it to the attorney general within 10 days. If the fiscal note indicates a fiscal impact, the attorney general shall prepare a fiscal statement of no more than 50 words, and the statement must be used on the petition and ballot if the issue is placed on the ballot."^[2]

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This page is under construction.

References

1. ↑ Preparing the initiative petition booklets
2. ↑ Review of proposed ballot issue and statements by attorney general -- preparation of fiscal note.