AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE RELATING TO THE DELAWARE ECONOMIC & FINANCIAL ADVISORY COUNCIL TO BE KNOWN AS THE DUPONT-COOK FINANCIAL RESPONSIBILITY ACT.

Delaware requires regular public budget forecasts

Delaware’s financial advisory council must advise state leaders on state finances, economic trends, and tax policy. On required legal schedules, it forecasts General Fund and Transportation Trust Fund revenues for the current and next two years. It also estimates current-year spending for both funds and next-year General Fund spending. By December 31 each year, it must provide longer forecasts: five years of revenues and four years of General Fund spending. Its annual report, also due December 31, covers its work, forecast accuracy, and key budget risks. The council also has duties involving health care spending benchmarks, state borrowing limits, budget reserves, tax breaks, and inflation adjustments. These public analyses inform state decisions but do not directly change household taxes, benefits, or costs.