§ 22-24-309 — Fiscal impact

(a) Upon the certification or conditional certification of
any initiative application, if in the opinion of the secretary
of state the proposed bill will have a fiscal impact on the
state, the secretary of state shall prepare an estimate and
explanation of the fiscal impact. The explanation shall include
a statement that it is an estimate of fiscal impact to the state
only and does not include an estimate of any impact upon
political subdivisions. Upon request of the secretary of state,
any agency in the executive department shall render assistance
in preparing the estimate and explanation of fiscal impact.
(b) No later than fourteen (14) days after final
certification of an initiative application, the secretary of
state shall render to the committee of applicants its fiscal
impact estimate and explanation. If the committee believes that
the secretary of state's estimate is inaccurate, within fourteen
(14) days after receiving the secretary of state's estimate and
explanation, the committee of applicants may submit to the
secretary of state its own estimate and explanation of fiscal
impact. Upon receiving the committee of applicants' estimate
and explanation, the secretary of state may revise its estimate
if in the opinion of the secretary of state the committee
demonstrates that the secretary of state's estimate is
inaccurate. If the final estimated fiscal impact by the
secretary of state and the final estimated fiscal impact by the
committee of applicants differ by more than twenty-five thousand
dollars ($25,000.00), the secretary of state's comments under
the ballot proposition shall contain an estimated range of
fiscal impact reflecting both estimates.