2020 -- H 7184

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LC003752

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2020

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A N   A C T

RELATING TO PUBLIC FINANCE -- REVENUE ESTIMATING CONFERENCES

     Introduced By: Representatives Lombardi, Hull, Walsh, Fogarty, and Cassar

     Date Introduced: January 22, 2020

     Referred To: House Finance

     It is enacted by the General Assembly as follows:

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

Estimating Conferences" is hereby amended to read as follows:

     35-16-2. Meetings.

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

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

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

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

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

topics.

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

necessary to support that conference.

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

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

recommendations.

     SECTION 2. This act shall take effect upon passage.

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LC003752

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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) days of April

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

     This act would take effect upon passage.

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LC003752

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