41-1272. Powers and duties; finances
A. The joint legislative budget committee shall:
1. Ascertain facts and make recommendations to the legislature relating to the
state budget, revenues and expenditures of the state, future fiscal needs, the
organization and functions of state agencies or their divisions and such other matters
incident to the above functions as may be provided for by rules of the joint legislative
budget committee.
2. Implement a system of fiscal notes to apply to those bills introduced in the
legislature that have a fiscal impact. These fiscal notes shall also reflect the fiscal
impact of legislation on cities, counties and all other political subdivisions of the
state.
3. Implement a system of fiscal notes for any rule as defined by section 41-1001
which has a fiscal impact.
4. Analyze the state tax structure, tax burdens on individuals and businesses and
tax incentives for existing and prospective businesses. The analyses shall include:
(a) Projection of the impact of industry specific tax incentive proposals on the
state revenue base.
(b) Comparison among states of relative tax burdens on existing and prospective
businesses.
(c) Determination of reliance and incidence aspects of the tax structure of this
state.
5. Implement a system of fiscal analysis that applies to those bills introduced in
the legislature that involve one or more proposed changes in the tax laws. Unless it is
unreasonable to do so, the fiscal analysis shall be based on assumptions that estimate
the probable behavioral response of taxpayers, businesses and other citizens and shall
include within the analysis a statement identifying those assumptions.
6. Adopt rules.
B. The joint legislative budget committee may:
1. Make studies, conduct inquiries and investigations and hold hearings.
2. Meet and conduct its business any place within the state during the sessions of
the legislature or any recess of the legislature and in the period when the legislature
is not in session.
3. Establish subcommittees from the membership of the legislature and assign to
such subcommittee any study, inquiry, investigation or hearing with the right to call
witnesses which the joint legislative budget committee has authority to undertake.
C. The joint legislative budget committee shall have the powers conferred by law
upon legislative committees.
D. Members of the joint legislative budget committee shall be reimbursed by their
respective houses in the same manner as is provided by law for a member of the
legislature who attends a duly called meeting of a standing committee.
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