Last week of legislative session brings a flurry of decision points:
The last few days of the South Dakota legislative session bring a series to decision points. On Thursday March 3, 2011, the Joint Appropriations Committee received revenue estimates from the Bureau of Finance and Management (BFM) and from their own Legislative Research Council (LRC).
The two sets of estimates were close – less than 1.25 percentage points apart. But given the size of the general fund budget, this variance still represented $14 million for FY11 and over $10 million for FY12. (See Chart 1) The Revenue Subcommittee will reference these projections when they select their own revenue estimate recommendation during their subcommittee meeting on Monday, March 7th.
Chart 1: Revised Revenue Estimates reported March 3, 2011
|FY 11 Revenue Estimate||FY 12 Revenue Estimate|
The revenue estimate is critically important – more anticipated revenue means fewer cuts are necessary – less anticipated revenue requires deeper cuts. Click to see the BFM’s Revenue Forecast and the slide presentation of their economic overview. LRC also provides their analysis and BFM’s analysis on their Budget Analysis one-note page. Select the “Rev. Est.” tab along the top of this one-note page and then choose between the four reports tabbed on the right side of the page to access detailed revenue information.
Following the Joint Appropriations Committee’s final determination of the Revenue Estimate on Monday, March 7th, the LRC will updated their FY11 and FY12 Sources and Uses Scorecard. To view this budgetary summary sheet, go to Budget Analysis, click the “Recap” tab at the top of the one-note page, and then click the “Scorecard FY12” tab from the right side tabs. To see a detailed analysis of the general bill changes, explore the additional tabs on the right side of this “Recap” page.
Remaining decision point in the State Budget Process:
8:00 am Monday March 7, 2011: Revenue estimates subcommittee meets to develop revenue estimate recommendation
11:00 am Monday March 7, 2011: Entire Appropriations Committee meets to adjust or approve revenue estimates.
12:00 noon Tuesday, March 8, 2011: Deadline for submission of amendments to the General Appropriations Bill – House Bill 1251.
Wednesday, March 9, 2011: Amendments to the General Appropriations Bill will be made available to the public1.
Wednesday, March 9, 2011: Last day for a bill or resolution to pass both houses.
8:00 am Thursday, March 10, 2011: Joint Appropriations will open the HB1251 – the General Appropriations Bill – and begin considering the amendments. Public testimony will be allowed2. The Joint Appropriations Committee will pass the general bill sometime either Thursday or Friday. In the meantime, concurrence or conference committees will work to resolve any outstanding differences in bills passed by the two houses.
Friday March 11, 2011: Both the House and Senate must pass the general appropriations bill before the end of the legislative day.
1Joint Appropriations Chair Representative Dean Wink confirmed 3-3-11 that General Appropriations Bill amendments will be made public via the LRC website.
2Joint Appropriations Chair Representative Dean Wink confirmed 3-3-11 that public testimony will be allowed on amendments to the general bill.