Nebraska Statutes 50-419.02. Legislative Fiscal Analyst; revenue volatility report; contents
(1) On November 15, 2016, the Legislative Fiscal Analyst shall prepare and electronically submit a revenue volatility report to the Appropriations Committee of the Legislature. Every two years thereafter the Legislative Fiscal Analyst shall prepare a revenue volatility report to append to the annual report required under section 77-2715.01. The report shall also be posted on the Legislature’s website.
Terms Used In Nebraska Statutes 50-419.02
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
(2) The report shall:
(a) Evaluate the tax base and the tax revenue volatility of revenue streams that provide funding for the state General Fund budget;
(b) Identify federal funding included in the state budget and any projected changes in the amount or value of federal funding or potential areas in which federal funding could be lost;
(c) Identify current and projected balances of the Cash Reserve Fund;
(d) Analyze the adequacy of current and projected balances of the Cash Reserve Fund in relation to the tax revenue volatility and the risk of a reduction in the amount or value of federal funding or potential areas in which federal funding could be lost;
(e) Include revenue projections for the ensuing two fiscal years included in the impending biennial budget; and
(f) Contain any other recommendations that the Legislative Fiscal Analyst determines are necessary.