2019 -- S 0063

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LC000570

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2019

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A N   A C T

RELATING TO PUBLIC FINANCE -- REVENUE ESTIMATING CONFERENCES

     

     Introduced By: Senators Nesselbush, Archambault, Quezada, Paolino, and Bell

     Date Introduced: January 16, 2019

     Referred To: Senate Finance

     It is enacted by the General Assembly as follows:

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     SECTION 1. Section 35-16-2 of the General Laws in Chapter 35-16 entitled "Revenue

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Estimating Conferences" is hereby amended to read as follows:

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     35-16-2. Meetings.

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     (a) The principals of the R.E.C. shall meet within the first ten (10) days of May and last

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ten (10) days of April and the first ten (10) days of November of each year.

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     (b) The primary purpose of regularly scheduled conferences is to prepare economic

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forecasts and forecast revenue estimates and review current revenue collections under current tax

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law. The conference principals can agree, however, to address special legislation or special

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topics.

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     (c) Prior to each R.E.C., the principals will determine the documentation and information

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necessary to support that conference.

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     (d) No votes will be taken in the revenue estimating conferences. These are truly

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consensus conferences and all principals must agree and are bound to the conference

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recommendations.

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     SECTION 2. This act shall take effect upon passage.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO PUBLIC FINANCE -- REVENUE ESTIMATING CONFERENCES

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     This act would change the dates of the R.E.C. meeting to the last ten (10) of April and the

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first ten (10) days of November of each year.

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     This act would take effect upon passage.

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