8.22A REVENUE ESTIMATING CONFERENCE.
1. The state revenue estimating conference is created consisting
of the governor or the governor's designee, the director of the
legislative services agency or the director's designee, and a third
member agreed to by the other two.
2. The conference shall meet as often as deemed necessary, but
shall meet at least quarterly. The conference may use sources of
information deemed appropriate.
3. By December 15 of each fiscal year the conference shall agree
to a revenue estimate for the fiscal year beginning the following
July 1. That estimate shall be used by the governor in the
preparation of the budget message under section 8.22 and by the
general assembly in the budget process. If the conference agrees to
a different estimate at a later meeting which projects a greater
amount of revenue than the initial estimate amount agreed to by
December 15, the governor and the general assembly shall continue to
use the initial estimate amount in the budget process for that fiscal
year. However, if the conference agrees to a different estimate at a
later meeting which projects a lesser amount of revenue than the
initial estimate amount, the governor and the general assembly shall
use the lesser amount in the budget process for that fiscal year. As
used in this subsection, "later meeting" means only those later
meetings which are held prior to the conclusion of the regular
session of the general assembly and, if the general assembly holds an
extraordinary session prior to the commencement of the fiscal year to
which the estimate applies, those later meetings which are held
before or during the extraordinary session.
4. At the meeting in which the conference agrees to the revenue
estimate for the following fiscal year in accordance with the
provisions of subsection 3, the conference shall agree to an estimate
for tax refunds payable from that estimated revenue. The estimates
required by this subsection shall be used in determining the adjusted
revenue estimate under section 8.54.
5. At the meeting in which the conference agrees to the revenue
estimate for the succeeding fiscal year in accordance with the
provisions of subsection 3, the conference shall also agree to the
following estimates which shall be used by the governor in
preparation of the budget message under section 8.22 and the general
assembly in the budget process for the succeeding fiscal year:
a. The amount of lottery revenues for the following fiscal
year to be available for disbursement following the deductions made
pursuant to section 99G.39, subsection 1.
b. The amount of revenue for the following fiscal year from
gambling revenues and from interest earned on the cash reserve fund
and the economic emergency fund to be deposited in the rebuild Iowa
infrastructure fund under section 8.57, subsection 6, paragraph
"e".
c. The amount of accruals of those revenues collected by or
due from entities other than the state on or before June 30 of the
fiscal year but not remitted to the state until after June 30.
d. The amount of accrued lottery revenues collected on or
before June 30 of the fiscal year but not transferred to the general
fund of the state until after June 30.
8.22A REVENUE ESTIMATING CONFERENCE.
1. The state revenue estimating conference is created consisting
of the governor or the governor's designee, the director of the
legislative services agency or the director's designee, and a third
member agreed to by the other two.
2. The conference shall meet as often as deemed necessary, but
shall meet at least quarterly. The conference may use sources of
information deemed appropriate.
3. By December 15 of each fiscal year the conference shall agree
to a revenue estimate for the fiscal year beginning the following
July 1. That estimate shall be used by the governor in the
preparation of the budget message under section 8.22 and by the
general assembly in the budget process. If the conference agrees to
a different estimate at a later meeting which projects a greater
amount of revenue than the initial estimate amount agreed to by
December 15, the governor and the general assembly shall continue to
use the initial estimate amount in the budget process for that fiscal
year. However, if the conference agrees to a different estimate at a
later meeting which projects a lesser amount of revenue than the
initial estimate amount, the governor and the general assembly shall
use the lesser amount in the budget process for that fiscal year. As
used in this subsection, "later meeting" means only those later
meetings which are held prior to the conclusion of the regular
session of the general assembly and, if the general assembly holds an
extraordinary session prior to the commencement of the fiscal year to
which the estimate applies, those later meetings which are held
before or during the extraordinary session.
4. At the meeting in which the conference agrees to the revenue
estimate for the following fiscal year in accordance with the
provisions of subsection 3, the conference shall agree to an estimate
for tax refunds payable from that estimated revenue. The estimates
required by this subsection shall be used in determining the adjusted
revenue estimate under section 8.54.
5. At the meeting in which the conference agrees to the revenue
estimate for the succeeding fiscal year in accordance with the
provisions of subsection 3, the conference shall also agree to the
following estimates which shall be used by the governor in
preparation of the budget message under section 8.22 and the general
assembly in the budget process for the succeeding fiscal year:
a. The amount of lottery revenues for the following fiscal
year to be available for disbursement following the deductions made
pursuant to section 99G.39, subsection 1.
b. The amount of revenue for the following fiscal year from
gambling revenues and from interest earned on the cash reserve fund
and the economic emergency fund to be deposited in the rebuild Iowa
infrastructure fund under section 8.57, subsection 6, paragraph
"e".
c. The amount of accruals of those revenues collected by or
due from entities other than the state on or before June 30 of the
fiscal year but not remitted to the state until after June 30.
d. The amount of accrued lottery revenues collected on or
before June 30 of the fiscal year but not transferred to the general
fund of the state until after June 30.
8.22A REVENUE ESTIMATING CONFERENCE.
1. The state revenue estimating conference is created consisting
of the governor or the governor's designee, the director of the
legislative services agency or the director's designee, and a third
member agreed to by the other two.
2. The conference shall meet as often as deemed necessary, but
shall meet at least quarterly. The conference may use sources of
information deemed appropriate.
3. By December 15 of each fiscal year the conference shall agree
to a revenue estimate for the fiscal year beginning the following
July 1. That estimate shall be used by the governor in the
preparation of the budget message under section 8.22 and by the
general assembly in the budget process. If the conference agrees to
a different estimate at a later meeting which projects a greater
amount of revenue than the initial estimate amount agreed to by
December 15, the governor and the general assembly shall continue to
use the initial estimate amount in the budget process for that fiscal
year. However, if the conference agrees to a different estimate at a
later meeting which projects a lesser amount of revenue than the
initial estimate amount, the governor and the general assembly shall
use the lesser amount in the budget process for that fiscal year. As
used in this subsection, "later meeting" means only those later
meetings which are held prior to the conclusion of the regular
session of the general assembly and, if the general assembly holds an
extraordinary session prior to the commencement of the fiscal year to
which the estimate applies, those later meetings which are held
before or during the extraordinary session.
4. At the meeting in which the conference agrees to the revenue
estimate for the following fiscal year in accordance with the
provisions of subsection 3, the conference shall agree to an estimate
for tax refunds payable from that estimated revenue. The estimates
required by this subsection shall be used in determining the adjusted
revenue estimate under section 8.54.
5. At the meeting in which the conference agrees to the revenue
estimate for the succeeding fiscal year in accordance with the
provisions of subsection 3, the conference shall also agree to the
following estimates which shall be used by the governor in
preparation of the budget message under section 8.22 and the general
assembly in the budget process for the succeeding fiscal year:
a. The amount of lottery revenues for the following fiscal
year to be available for disbursement following the deductions made
pursuant to section 99G.39, subsection 1.
b. The amount of revenue for the following fiscal year from
gambling revenues and from interest earned on the cash reserve fund
and the economic emergency fund to be deposited in the rebuild Iowa
infrastructure fund under section 8.57, subsection 6, paragraph
"e".
c. The amount of accruals of those revenues collected by or
due from entities other than the state on or before June 30 of the
fiscal year but not remitted to the state until after June 30.
d. The amount of accrued lottery revenues collected on or
before June 30 of the fiscal year but not transferred to the general
fund of the state until after June 30.
