| 1 | A bill to be entitled |
| 2 | An act relating to economic and demographic research; |
| 3 | requiring the Office of Economic and Demographic Research |
| 4 | to annually perform certain economic impact analyses of |
| 5 | certain legislation; requiring reports to the Legislature; |
| 6 | providing reporting requirements; requiring the office to |
| 7 | develop certain protocols and procedures for certain |
| 8 | purposes; specifying requirements; requiring a report to |
| 9 | the Legislature; providing an effective date. |
| 10 |
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| 11 | Be It Enacted by the Legislature of the State of Florida: |
| 12 |
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| 13 | Section 1. (1) Each year, the Office of Economic and |
| 14 | Demographic Research shall perform a longitudinal analysis of |
| 15 | the economic impact of legislation that amends provisions of the |
| 16 | laws of this state relating to taxation. Findings of the |
| 17 | analysis shall be released in three annual reports. The first |
| 18 | report shall be due to the President of the Senate and the |
| 19 | Speaker of the House of Representatives by September 1 of the |
| 20 | year in which the legislation is enacted and shall include an |
| 21 | assessment of the likely impact of the legislation and a listing |
| 22 | of the analytical measures to be used. The remaining annual |
| 23 | reports shall address any changes in the measures detected over |
| 24 | the prior year and shall provide an assessment of any deviations |
| 25 | from the likely impact previously identified. The final report |
| 26 | shall also include an in-depth comparison of the predictions |
| 27 | contained within the cost-benefit analysis conducted prior to |
| 28 | the policy decision with the actual results after |
| 29 | implementation. |
| 30 | (2) The Office of Economic and Demographic Research shall |
| 31 | develop protocols and procedures for the consistent development |
| 32 | of cost-benefit and return-on-investment techniques and their |
| 33 | application to issues for consideration of special impact by |
| 34 | Revenue Estimating Conferences. At a minimum, the protocols and |
| 35 | procedures must address appropriate economic techniques to use |
| 36 | in the analysis, the format for reporting results, and proposed |
| 37 | linkages to the appropriations and revenue-forecasting |
| 38 | processes, including any statutory changes that would be needed. |
| 39 | Such linkages must be consistent with the constitutional |
| 40 | requirement for a balanced budget. The office shall submit a |
| 41 | report of its findings and recommendations to the President of |
| 42 | the Senate and the Speaker of the House of Representatives by |
| 43 | December 1, 2010. |
| 44 | Section 2. This act shall take effect upon becoming a law. |