Section 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.(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.Neb. Rev. Stat. §§ 50-419.02
Added by Laws 2015, LB 33,§ 1, eff. 8/30/2015.