(a)On or before December 20 of each year, the Committee shall submit, subject to § 2–1257 of this title, to the Legislative Policy Committee and the Governor a report with recommendations on fiscal goals for the State budget to be considered at the next regular session of the General Assembly, including:
(1)a recommended level of State spending;
(2)a recommended level of new debt authorization;
(3)a recommended level of State personnel;
(4)a recommended use of any anticipated surplus;
(5)a recommended end–of–the–year General Fund balance;
(6)a recommended end–of–the–year balance in the Revenue Stabilization Account established under § 7–311 of the State Finance and Procurement Article;
Free access — add to your briefcase to read the full text and ask questions with AI
(a) On or before December 20 of each year, the Committee shall submit, subject to § 2–1257 of this title, to the Legislative Policy Committee and the Governor a report with recommendations on fiscal goals for the State budget to be considered at the next regular session of the General Assembly, including:
(1) a recommended level of State spending;
(2) a recommended level of new debt authorization;
(3) a recommended level of State personnel;
(4) a recommended use of any anticipated surplus;
(5) a recommended end–of–the–year General Fund balance;
(6) a recommended end–of–the–year balance in the Revenue Stabilization Account established under § 7–311 of the State Finance and Procurement Article;
(7) a recommended structural balance goal;
(8) a recommended fund balance for the Transportation Trust Fund established under § 3–216 of the Transportation Article;
(9) a recommended minimum expenditure level for system preservation by the Maryland Department of Transportation; and
(10) other findings or recommendations that the Committee considers appropriate.
(b) If the report recommends expenditures in excess of the annual increase in personal income, gross State product, or other data that the Committee used to measure the growth of the State’s economy, the Committee shall provide the Senate and the House with an analysis as to the extent the recommendation exceeds those economic indicators.