TITLE 1: GOVERNMENT
DIVISION 7: PLANNING, BUDGETING AND AUDITING
§ 7601. Rescission of Budget Authority. (a) Whenever the Governor determines that all or any part of any budget authority will not be required to carry out the full objectives or scope of programs for which it is provided, or that such budget authority should be rescinded for fiscal policy or other reasons (including the termination of any authorized project or activity), the Governor shall transmit to both houses of the legislature a special message specifying: (1) The amount of budget authority which he proposes to be rescinded; (2) The agency or account, and any specific project or governmental function involved; (3) The reasons why the budget authority should be rescinded; (4) To the maximum extent practicable, the estimated fiscal, economic, and budgetary effect of the proposed rescission; and (5) All facts, circumstances, and considerations relating to or bearing upon the proposed rescission and the decision to effect such rescission, and the estimated effect of the proposed rescission on the objects, purposes, and programs for which the budget authority is provided. (b) Any amount of budget authority proposed to be rescinded as set forth in a special message transmitted pursuant to subsection (a) of this section shall be rescinded, unless both houses of the legislature disapprove of such action by joint resolution adopted within 30 calendar days. Source: PL 3-68, § 601; amended by PL 3-93, § 4.