52:9H-32 - Duties of commission - New Jersey Statutes

52:9H-32.    Duties of commission 
     2.   The commission shall engage in a continuous study of State tax and revenue collections and related economic conditions with particular attention to the periodic monitoring of revenue collections under the State's tax system and the forecasting of revenues anticipated to be received by the State during the present and next commencing fiscal year. The commission shall, at least quarterly, make revenue forecasts which shall be provided by way of written reports, to the Governor to assist him in the preparation of his annual budget message and in his certification of revenues available to support appropriations, and to the members of the Senate Budget and Appropriations Committee and the Assembly Appropriations Committee, or their successors, to assist them during their appropriations hearings and deliberations.  The commission shall make such further interim reports to the Governor and the committees as it shall deem advisable, or as shall be requested by the Governor or by either committee.  All official forecasts and reports of the commission shall be made available for public dissemination following their submission to the Governor or the committees.  The commission shall consider the expert opinions of its members in formulating its revenue forecasts in addition to the use of traditional quantitative techniques and econometric forecasting and statistical models. 

    L.1992,c.75,s.2.