SF0174 - Consensus revenue estimating group.

 

2001

State of Wyoming

01LSO-0366

 

 

 

SENATE FILE NO.  SF0174

 

 

Consensus revenue estimating group.

 

Sponsored by:  Senator(s) Kunz, Coe, Hinchey, Larson,
Mockler, Peck and Schiffer and
Representative(s) Baker, Hines, Nagel,
Simons and Tipton

 

 

A BILL

 

for

 

 1  AN ACT relating to state funds; creating a consensus
 2  revenue estimating group to provide estimates of revenue to
 3  the state; specifying composition of the group and required
 4  estimates of revenue; requiring use of estimates made by
 5  the group in developing state budget and for other uses;
 6  and providing for an effective date.

 7 

 8  Be It Enacted by the Legislature of the State of Wyoming:

 9 

10         Section 1.  W.S. 9-2-1013 by creating new subsections
11  (f) and (g) is amended to read:

12 

13         9-2-1013.  State budget; distribution of copies to
14  legislators; copies and reports of authorizations.

15 

 

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 1         (f)  The estimates of revenue required under
 2  paragraphs (a)(ii) and (d)(ii) of this section shall be
 3  those estimates as determined by the consensus revenue
 4  estimating group established in accordance with this
 5  subsection and subsection (g) of this section. Any state
 6  agency providing the legislature an estimate of revenues
 7  for any of the funds subject to the consensus revenue
 8  estimating group's most recent report shall use the
 9  estimates contained in that report. The consensus revenue
10  estimating group shall be comprised of:

11 

12              (i)  The manager of the budget and fiscal
13  division of the legislative service office;

14 

15              (ii)  The administrator of the economic analysis
16  division of the department of administration and
17  information;

18 

19              (iii)  The state oil and gas supervisor or his
20  designee;

21 

22              (iv)  The state geologist or his designee;

23 

 

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 1              (v)  A University of Wyoming professor of
 2  economics appointed by the president of the university;

 3 

 4              (vi)  The state auditor or his designee;

 5 

 6              (vii)  The director of the department of revenue
 7  or his designee;

 8 

 9              (viii)  The state superintendent of public
10  instruction or his designee;

11 

12              (ix)  The state treasurer or his designee.

13 

14         (g)  The representatives of the legislative service
15  office and the division of economic analysis shall serve as
16  cochairmen of the consensus revenue estimating group.
17  Members of the group shall serve without compensation but
18  shall suffer no loss of wages for the time devoted to the
19  duties of the group. The group shall estimate revenues to
20  the general fund, severance taxes, federal mineral
21  royalties and other revenue sources to the state. The group
22  shall also forecast assessed valuations. Estimates of
23  revenue shall be made in October and may be revised the
24  following January and at other times if the group

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 1  determines revisions are warranted. A report shall be
 2  issued by the group in October containing the October
 3  estimates of revenue, and again in January if any revisions
 4  are made. The estimations and reports shall be provided to
 5  the governor and the legislature.

 6 

 7         Section 2.  This act is effective July 1, 2001.

 8 

 9                         (END)

 

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