§ 10-3-1403 - Powers and duties. - Arkansas Statutes

10-3-1403. Powers and duties.

(a) The Office of Economic and Tax Policy of the Bureau of Legislative Research shall work under the standards and guidelines of the Joint Committee on Economic and Tax Policy and shall:

(1) Review the biennial and annual revenue forecast submitted by the executive branch;

(2) Provide legislators with such information as may be requested regarding the data and assumptions supporting the forecast;

(3) At the request of the committee, provide alternative forecasts based on different assumptions regarding economic performance;

(4) Make periodic reviews of the official revenue forecast performance;

(5) Provide members with analyses of policy proposals which might affect the economy or fiscal outlook of the State of Arkansas;

(6) Biennially prepare and make available to the members of the General Assembly a comprehensive compilation of taxes levied by the State of Arkansas;

(7) Provide committee members or other members of the General Assembly with such data, information, or policy studies as may be requested, subject to time and resource constraints;

(8) Review any changes made in the distribution of funds for public education; and

(9) Perform or arrange for the performance of audits of the economic impact and cost-benefit with regard to any economic development project for which the sponsor receives the benefit of Amendment 82 bond financing.

(b) The office shall prepare fiscal impact analyses of proposed legislation on request of:

(1) Any member of the General Assembly; or

(2) A legislative committee.