(a) Within ten (10) business days of a sponsor submitting an original draft under § 7-9-107, the Attorney General shall determine if the proposed measure has a financial impact by virtue of:(1) Increasing or decreasing state revenues, costs, expenditures, or indebtedness; or(2) Establishing, repealing, or modifying one (1) or more taxes.
(1) Increasing or decreasing state revenues, costs, expenditures, or indebtedness; or
(2) Establishing, repealing, or modifying one (1) or more taxes.
(b) If the Attorney General certifies a ballot title and popular name under § 7-9-107(d) and he or she determines that the proposed measure has a financial impact under subsection (a) of this section, he or she shall refer the proposed measure and the certified ballot title and popular name within three (3) business days to the Department of Finance and Administration.
(c) Upon the referral of a proposed measure under subsection (b) of this section, the department shall prepare an unbiased, good faith fiscal impact statement for the proposed measure, not exceeding one hundred (100) words plus one hundred (100) additional words per revenue source created or impacted by the proposed measure, that contains:(1) A description of the total estimated fiscal impact of the proposed measure over the time period or time periods determined by the department to be most useful in understanding the estimated fiscal impact of the proposed measure;(2) If the proposed measure would increase taxes, decrease taxes, or impose a new tax, a dollar amount representing the total estimated increase or decrease for each type of tax affected under the proposed measure, a dollar amount showing the estimated amount of a new tax, and a dollar amount representing the total estimated increase or decrease in taxes under the proposed measure;(3) If the proposed measure would increase a particular tax or tax rate, the tax percentage difference and the tax percentage increase for each tax or tax rate increased;(4) If the proposed measure would result in the issuance or a change in the status of bonds, notes, or other debt instruments, a dollar amount representing the total estimated increase or decrease in public debt under the proposed law;(5) A dollar amount representing the estimated cost or savings, if any, to state government entities under the proposed measure;(6) If the proposed measure would increase costs to state government, a listing of all sources of funding for the estimated costs; and(7) A concise description and analysis titled “Funding Source”, not to exceed one hundred (100) words for each funding source, of the funding source information.
(1) A description of the total estimated fiscal impact of the proposed measure over the time period or time periods determined by the department to be most useful in understanding the estimated fiscal impact of the proposed measure;
(2) If the proposed measure would increase taxes, decrease taxes, or impose a new tax, a dollar amount representing the total estimated increase or decrease for each type of tax affected under the proposed measure, a dollar amount showing the estimated amount of a new tax, and a dollar amount representing the total estimated increase or decrease in taxes under the proposed measure;
(3) If the proposed measure would increase a particular tax or tax rate, the tax percentage difference and the tax percentage increase for each tax or tax rate increased;
(4) If the proposed measure would result in the issuance or a change in the status of bonds, notes, or other debt instruments, a dollar amount representing the total estimated increase or decrease in public debt under the proposed law;
(5) A dollar amount representing the estimated cost or savings, if any, to state government entities under the proposed measure;
(6) If the proposed measure would increase costs to state government, a listing of all sources of funding for the estimated costs; and
(7) A concise description and analysis titled “Funding Source”, not to exceed one hundred (100) words for each funding source, of the funding source information.
(d) Following the certification of a ballot title and popular name under § 7-9-107(d), the sponsor of the proposed measure may provide information to the department that he or she believes would assist the department in preparing the unbiased, good faith fiscal impact statement under subsection (c) of this section.
(e) If the department requests information from a state agency or other public entity that is necessary for the completion of the fiscal impact statement under this section, the state agency or other public entity shall provide the requested information by the date identified by the department.
(f) If the department determines that the fiscal impact of the proposed measure cannot be determined, the department may indicate that the fiscal impact cannot be determined in the fiscal impact statement.
(g) The department shall forward the fiscal impact statement under subsection (c) of this section to the Secretary of State by the seventy-sixth day before the general election.
(h) (1) If the fiscal impact statement under subsection (c) of this section exceeds two hundred (200) words, the department shall prepare an additional version of the fiscal impact statement that does not exceed two hundred (200) words.(2) The version of the fiscal impact statement that does not exceed two hundred (200) words shall be included on the ballot under § 7-9-117(d) in lieu of the version of the fiscal impact statement exceeding two hundred (200) words.
(1) If the fiscal impact statement under subsection (c) of this section exceeds two hundred (200) words, the department shall prepare an additional version of the fiscal impact statement that does not exceed two hundred (200) words.
(2) The version of the fiscal impact statement that does not exceed two hundred (200) words shall be included on the ballot under § 7-9-117(d) in lieu of the version of the fiscal impact statement exceeding two hundred (200) words.
(i) The sponsor of a proposed measure shall not be charged any costs associated with the preparation of the fiscal impact statement under this section.
(j) When determining the number of words in a fiscal impact statement under this section, the department shall not include numerals and associated special characters in the word count, including without limitation dollar signs and percentage symbols.