Louisiana Revised Statutes 39:26 – Sessions
Terms Used In Louisiana Revised Statutes 39:26
- Budget office: means the section of the division of administration which monitors budgeting functions. See Louisiana Revised Statutes 39:2
- Executive budget: means the document submitted to the legislature at each regular session, pursuant to the provisions of this Chapter and 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.
- Official forecast: means the most recently adopted estimate of money available for appropriation by the Revenue Estimating Conference as provided in Louisiana Revised Statutes 39:2
A. The Revenue Estimating Conference shall meet at least four times per year as follows:
(1) By October fifteenth the conference shall establish an official forecast for the ensuing fiscal year which shall be utilized by the budget office in formulating the executive budget recommendations.
(2) By January first the conference shall revise the official forecast for the ensuing fiscal year which shall be utilized in the preparation of the executive budget.
(3) By the third Monday in March the conference shall revise the official forecast which shall be utilized by the legislature in its adoption of a state budget for the ensuing fiscal year.
(4) By August fifteenth and subsequent to the final adjournment of each regular session the conference shall revise the official forecast for the fiscal year for which appropriations were made in the past regular session which shall incorporate all revenue impacts resulting from legislation enacted during the past regular session and which shall be utilized in the preparation of the state budget, as required by La. Rev. Stat. 39:56.
B. The official forecast for the current fiscal year shall be reviewed, and revised if necessary, each time the Revenue Estimating Conference meets.
C. At any time that at least two principals of the conference issue written notification that they are of the opinion that conditions warrant a possible revision of the official forecast for either the ensuing fiscal year or the current fiscal year, then a meeting of the conference shall be held for purposes of such consideration.
Acts 1989, No. 836, §1, eff. July 1, 1989; Acts 1993, No. 533, §1, eff. July 1, 1993.