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A BILL TO BE ENTITLED
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AN ACT
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relating to the creation of a long-range revenue analysis |
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committee. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 403, Government Code, is |
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amended by adding Section 403.0306 to read as follows: |
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Sec. 403.0306. LONG-RANGE REVENUE ANALYSIS COMMITTEE. (a) |
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The long-range revenue analysis committee shall produce biannual |
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long-range financial projection and revenue reports to assist the |
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legislature in making budget decisions. |
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(b) The committee is composed of: |
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(1) the chief revenue estimator from the office of the |
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comptroller; |
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(2) the executive director of the Legislative Budget |
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Board; |
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(3) the committee director of the committee of the |
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house of representatives with jurisdiction over appropriations; |
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(4) the committee director of the senate committee |
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with jurisdiction over appropriations; and |
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(5) the state demographer. |
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(c) The executive director of the Legislative Budget Board |
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shall serve as the chair of the committee. |
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(d) The committee is not subject to Chapter 2110. |
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(e) The committee may request assistance with gathering |
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data, performing analysis, developing financial forecasts and |
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official estimates, or any other relevant tasks from any |
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department, agency, institution, office, or political subdivision |
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of this state. |
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(f) Between January 15 and February 1 of each odd-numbered |
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year, the committee shall issue a long-range revenue analysis |
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report for a 10-year period, including the fiscal biennium |
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beginning on September 1 of that year, that includes: |
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(1) revenue estimates and major state financial |
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projections, including: |
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(A) long-term cost drivers for expenditures in |
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each article of the General Appropriations Act, such as projections |
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of population demographics, educational statistics, and workforce |
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statistics; and |
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(B) long-term revenue sources, such as state |
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economic growth and personal income growth; |
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(2) projections for constitutionally dedicated |
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appropriations during the 10-year period; |
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(3) fiscal impact statements for the projected |
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development of the economy, population, and fiscal practices of the |
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state; and |
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(4) fiscal impact statements for current state |
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programs and fiscal policies. |
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(g) In creating the report required by Subsection (f), the |
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committee shall use the current actual expenditures of the state, |
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or, if actual expenditures are not available, the best available |
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estimate of actual expenditures of the state and may seek input as |
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necessary from the public, the executive branch and the judicial |
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branch of the state, state agencies, and any other relevant |
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sources. The committee must reach a consensus on any revenue |
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analysis and projections created for each report before the |
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analysis or projections may be included in the report. |
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(h) The report produced by the committee must be approved by |
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all members of the Legislative Budget Board before publication. |
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(i) Following approval of the report under Subsection (h), |
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the Legislative Budget Board shall deliver the report to the |
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legislature and shall publish the report on the board's Internet |
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website. |
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SECTION 2. This Act takes effect September 1, 2015. |