/ SECTION 6. Section 11-9-890(B) of the 1976 Code is amended to read:
"(B) If at the end of the first, second, or third quarter of any fiscal year quarterly revenue collections are
two percent or more below the amount projected for that quarter by the Board of Economic Advisors, the State Budget and Control Board General Assembly, within seven twenty days of convening pursuant to this section days of that determination, shall take action to avoid a year-end deficit. Upon the determination that revenue collections are below the amount projected, each house of the General Assembly shall convene in statewide session at twelve noon on the first Tuesday following the determination of the deficit to take action to avoid a year-end deficit. Notwithstanding Section 1-11-495, if the State Budget and Control Board does not take unanimous action within seven days, the Director of the Office of State Budget must reduce general fund appropriations by the requisite amount in the manner prescribed by law. Upon making the reduction, the Director of the Office of State Budget immediately must notify the State Treasurer and the Comptroller General of the reduction, and upon notification, the appropriations are considered reduced. No agencies, departments, institutions, activity, program, item, special appropriation, or allocation for which the General Assembly has provided funding in any part of this section may be discontinued, deleted, or deferred by the Director of the Office of State Budget. A reduction of rate of expenditure by the Director of the Office of State Budget, under authority of this section, must be applied as uniformly as shall be practicable, except that no reduction must be applied to funds encumbered by a written contract with the agency, department, or institution not connected with state government." /
Amend the bill further, as and if amended, page 14, by striking lines 31 - 42, and on page 15, by striking lines 1 - 2, and inserting:
"(A)(1)There is created the Board of Economic Advisors, an independent agency of state government, comprised of three members appointed by the Governor, with the advice and consent of the Senate. The board members shall receive an annual compensation of ten thousand dollars. Board members may only be removed by the Governor for for malfeasance, misfeasance, incompetency, absenteeism, conflicts of interest, misconduct, persistent neglect of duty in office, or incapacity.
(1) One member, appointed by, and serving at the pleasure of, the Governor, who shall serve as chairman and shall receive annual compensation of ten thousand dollars;
(2) One member appointed by, and serving at the pleasure of, the Chairman of the Senate Finance Committee, who shall receive annual compensation of eight thousand dollars;
(3) One member appointed by, and serving at the pleasure of, the Chairman of the Ways and Means Committee of the House of Representatives, who shall receive annual compensation of eight thousand dollars;
(4) The Director of the Department of Revenue, who shall serve ex officio, with no voting rights."
Amend the bill further, as and if amended, page 15, by striking lines 10-42 and inserting:
/ (B) The
Chairman of the Board of Economic Advisors shall report directly to the Budget and Control Board to establish policy governing economic trend analysis. The Board of Economic Advisors shall provide for its staffing and administrative support from funds appropriated by the General Assembly.
(C) The Executive Director of the
Budget and Control Board Board of Economic Advisors shall assist the Governor, Chairman of the Board of Economic Advisors, Chairman of the Senate Finance Committee, and Chairman of the Ways and Means Committee of the House of Representatives in providing provide for an effective system for compiling and maintaining current and reliable economic data. The Board of Economic Advisors may establish an advisory board to assist in carrying out its duties and responsibilities. All state agencies, departments, institutions and divisions shall provide the information and data the advisory board requires. The Board of Economic Advisors is considered a public body for purposes of the Freedom of Information Act, pursuant to Section 30-4-20(a)."
SECTION 4. Section 11-9-825 of the 1976 Code is repealed. /
Amend the bill further, as and if amended, page 16, by striking lines 1-23 and inserting:
/ SECTION ___. Section 11-9-830 of the 1976 Code is amended to read:
"Section 11-9-830. In order to provide a more effective system of providing advice to the
Budget and Control Board Governor and the General Assembly on economic trends, the Board of Economic Advisors shall:
(1) compile and maintain in a unified, concise, and orderly form information about total revenues and expenditures which involve the funding of state government operations, revenues received by the state which comprise general revenue sources of all receipts to include amounts borrowed, federal grants, earnings, and the various activities accounted for in other funds;
(2) continuously review and evaluate total revenues and expenditures to determine the extent to which they meet fiscal plan forecasts/projections;
(3) evaluate federal revenues in terms of impact on state programs;
(4) compile economic, social, and demographic data for use in the publishing of economic scenarios for incorporation into the development of the state budget;
(5) bring to the attention of the Governor and the General Assembly the effectiveness, or lack thereof, of the economic trends and the impact on statewide policies and priorities;
(6) establish liaison with the Congressional Budget Office and the Office of Management and Budget at the national level." /
Amend the bill further, as and if amended, by striking Part XI, relating to Legislative Oversight, and inserting:
SECTION ___. Chapter 15, Title 2 of the 1976 Code is amended by adding:
"Section 2-15-130. (A) Beginning January 1, 2013, the Legislative Audit Council must conduct performance audits, oversight studies, and investigations on all agencies, as defined in Section 2-15-50, at least once every five years in accordance with a schedule adopted and published by the council. The council shall publish on its internet website its annual audit schedule. New agencies, departments, or other state entities created after the effective date of this section must be added to the five-year audit cycle and appropriate audit schedules.
(B) The purpose of these performance audits, oversight studies, and investigations is to determine if agency laws and programs:
(1) are being implemented and carried out in accordance with the intent of the General Assembly; and
(2) should be continued, curtailed, or eliminated.
(C) The performance audits, oversight studies, and investigations must consider:
(1) the application, administration, execution, and effectiveness of laws and programs addressing subjects within the standing committee's subject matter jurisdiction;
(2) the organization and operation of state agencies and entities having responsibilities for the administration and execution of laws and programs addressing subjects within the standing committee's subject matter jurisdiction; and
(3) any conditions or circumstances that may indicate the necessity or desirability of enacting new or additional legislation addressing subjects within the standing committee's subject matter jurisdiction.
(D) The report of each performance audit, oversight study, or investigation must be published on the council's webpage and sent to the chairman of the standing committees of the General Assembly with subject matter jurisdiction." /
Renumber sections to conform.
Amend title to conform.