H5803

	2021 -- H 5803
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	LC001700
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	STATE OF RHODE ISLAND
	IN GENERAL ASSEMBLY
	JANUARY SESSION, A.D. 2021
	____________
	A N A C T
	RELATING TO PUBLIC FINANCE -- REVENUE ESTIMATING CONFERENCES

	Introduced By: Representative John J. Lombardi
	Date Introduced: February 24, 2021
	Referred To: House Finance
	It is enacted by the General Assembly as follows:
1	SECTION 1. Section 35-16-2 of the General Laws in Chapter 35-16 entitled "Revenue
2	Estimating Conferences" is hereby amended to read as follows:
3	35-16-2. Meetings.
4	(a) The principals of the R.E.C. shall meet within the first ten (10) days of May and last
5	ten (10) days of April and the first ten (10) days of November of each year.
6	(b) The primary purpose of regularly scheduled conferences is to prepare economic
7	forecasts and forecast revenue estimates and review current revenue collections under current tax
8	law. The conference principals can agree, however, to address special legislation or special topics.
9	(c) Prior to each R.E.C., the principals will determine the documentation and information
10	necessary to support that conference.
11	(d) No votes will be taken in the revenue estimating conferences. These are truly consensus
12	conferences and all principals must agree and are bound to the conference recommendations.
13	SECTION 2. This act shall take effect upon passage.
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	LC001700
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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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1	This act would change the dates of the Revenue Estimating Conferences meeting to the last
2	ten (10) days of April and the first ten (10) days of November of each year.
3	This act would take effect upon passage.
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	LC001700
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