20mar03... 0618h

05/22/03 1671s

2003 SESSION

03-0829

05/10

HOUSE BILL 805

COMMITTEE: Ways and Means

ANALYSIS

This bill establishes a consensus revenue estimating panel to monitor revenue estimating variables and to provide periodic revenue estimates to the legislative and executive branches.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

20mar03... 0618h

05/22/03 1671s

03-0829

05/10

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Three

Be it Enacted by the Senate and House of Representatives in General Court convened:

155:1 New Chapter; Consensus Revenue Estimating Panel. Amend RSA by inserting after chapter 17-P the following new chapter:

CHAPTER 17-Q

CONSENSUS REVENUE ESTIMATING PANEL

17-Q:1 Consensus Revenue Estimating Panel Established. There is established a consensus revenue estimating panel to enhance the state's ability to manage its fiscal policies.

17-Q:2 Panel Membership and Compensation.

I. The members of the panel shall be as follows:

(a) Two members of the house of representatives, appointed by the speaker of the house.

(b) Two members of the senate, appointed by the president of the senate.

(c) The governor's budget director.

(d) The commissioner of the department of revenue administration, or designee.

(e) The comptroller of the division of accounting services, department of administrative services, or designee.

(f) Three members of the business community with expertise in business and economics, appointed by the governor.

(g) Two members of the academic community, appointed by the governor.

II. Members of the panel shall serve without compensation, except that legislative members of the panel shall receive mileage at the legislative rate when attending to the duties of the panel.

III. Legislative members of the panel shall serve a term coterminous with their term in office. Members from the executive branch shall serve a term coterminous with their appointment. Members from the private sector shall serve a 3-year term.

17-Q:3 Duties. The panel shall:

I. Monitor revenue estimating variables such as employment, population, interest rates, income, and other indices as are appropriate.

II. Provide periodic revenue estimates available to both the legislative and executive branches of government.

17-Q:4 Chairperson; Quorum. The members of the panel shall elect a chairperson from among the members. The panel shall adopt rules for its procedures and meetings. Six members of the panel shall constitute a quorum. In conducting its business, the panel may solicit relevant information and testimony from a variety of sources, including:

I. The legislative budget assistant.

II. The commissioner of the department of revenue administration.

III. The commissioner of administrative services.

IV. The commissioner of the department of transportation.

V. The commissioner of the department of safety.

VI. The commissioners of the state liquor commission.

VII. The commissioner of the department of insurance.

VIII. The commissioner of the department of health and human services.

17-Q:5 Report. The panel shall provide quarterly reports of its findings and recommendations on November 1, February 1, May 1, and August 1 to the speaker of the house of representatives, the senate president, the house clerk, the senate clerk, the governor, the chairs of the house and senate ways and means and finance committees, and the state library. The first such report shall be filed on November 1, 2003.

155:2 Repeal. Chapter RSA 17-Q, relative to the consensus revenue estimating panel, is repealed.

155:3 Effective Date.

I. Section 2 of this act shall take effect May 1, 2005.

II. The remainder of this act shall take effect 60 days after its passage.

(Approved: June 17, 2003)

(Effective Date: I. Section 2 shall take effect May 1, 2005