Louisiana Revised Statutes 39:172 – Revenues
Terms Used In Louisiana Revised Statutes 39:172
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Appropriation: means an authorization by the legislature to a budget unit for a program to expend from public funds a sum of money, for purposes designated, under the procedure prescribed in this Chapter. See Louisiana Revised Statutes 39:2
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Money available for appropriation: means the amount of money to be received for a fiscal year by the state general fund and dedicated funds, exclusive of federal funds and those amounts appropriated or allocated by the Constitution of Louisiana. See Louisiana Revised Statutes 39:2
- Official forecast: means the most recently adopted estimate of money available for appropriation by the Revenue Estimating Conference as provided in La. See Louisiana Revised Statutes 39:2
A. The Revenue Estimating Conference shall determine the revenues to be used in the base-line projection by establishing the following:
(1) The official forecast for the current year.
(2) The official forecast for the ensuing fiscal year.
(3) A projection of money available for appropriation in each fiscal year for the three-year period following the ensuing fiscal year.
B. The revenues to be used in the base-line projection shall be determined by the Revenue Estimating Conference through a process to be decided by the conference except that any final action establishing these revenues shall be taken only pursuant to a unanimous decision by all of the conference principals.
C. The Economic Estimating Conference shall prepare and revise, as necessary, the projections of money available for appropriation in each fiscal year for the three-year period following the ensuing fiscal year. This estimate shall be submitted to the Revenue Estimating Conference each time it meets to establish or revise an official forecast for the current or ensuing fiscal year. The Revenue Estimating Conference shall consider this forecast in determining the base-line projection as provided by this Section.
D. The official forecasts for the current and ensuing fiscal years and the most recently adopted projections of money available for appropriation in each fiscal year for the three-year period following the ensuing fiscal year shall be the revenue figures used in the base-line projection.
Acts 1992, No. 827, §1, eff. Aug. 1, 1992.