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, for six-year terms. The board members shall receive an annual compensation of ten thousand dollars. Board members may only be removed by the Governor for malfeasance, misfeasance, incompetency, absenteeism, conflicts of interest, misconduct, persistent neglect of duty in office, or incapacity.
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 Section 11-9-825 of the 1976 Code is repealed.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." /
Renumber sections to conform.
Amend title to conform.