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Department of the Treasury
FISCAL NOTE PROCEDURES

CIRCULAR NO.: 91-13-OMB

ATTENTION: DIRECTORS OF ADMIN. & CHIEF FISCAL OFFICERS

SUBJECT: FISCAL NOTE PROCEDURES

EXPIRE DATE: INDEFINITE

SUPERSEDES: 86-07-OMB

GENERAL:

The purpose of a fiscal note is to develop estimates of increases
or decreases of expenditures or revenues of the State or any
political subdivision thereof which will result if proposed
legislation is enacted. The fiscal note system and process
provides the Legislative and Executive branches of government
with a description of the potential economic impact of proposed
legislation.

Fiscal notes are requested by the Legislative Budget Officer un-
der the provisions of NJSA 52:13B. The Office of Management and
Budget is responsible for the administration of the fiscal note
process for the Executive branch. Each State agency is respon-
sible for completion of fiscal notes and associated comments and
worksheets for specific proposed legislation upon request by OMB
within the time frames established by law and as indicated
herein.

Agencies should be cognizant of the fact that fiscal notes play a
major role in determining if a bill is enacted, whether it in-
cludes a supplemental appropriation, and the amount of the sup-
plemental appropriation. Agencies should be diligent in exercis-
ing their responsibilities with regard to fiscal notes to avoid
the possibility of being burdened with a new or revised program
that is underfunded.

FISCAL NOTE WORKSHEET ATTACHMENT:

In order to facilitate OMB's and the Office of Legislative
Services' review of fiscal notes and to serve as a basis for data
to be included on fiscal notes, the Office of Management and
Budget has developed a Fiscal Note Worksheet Attachment (OMB form
41A). The Fiscal Note Worksheet Attachment is to be completed
and returned with the Fiscal Note Worksheet (OMB Form 41) when-
ever a department or agency provides an estimate for operating
expenditures. Instructions for completion of the Fiscal Note
Worksheet and Fiscal note Worksheet Attachment are on the reverse
of the form.

FISCAL NOTE PROCESS AND RESPONSE TIME REQUIREMENTS:

The following procedures shall be followed for the preparation of
fiscal notes:

1. The Director, Office of Management and Budget, upon receipt
of a fiscal note estimate from the Office of Legislative
Services, must forward the request to the appropriate
operating department, branch, agency, or commission within 5
business days.

2. Upon receipt of the request, the operating department,
branch, agency, or commission, must complete and return th e
fiscal note estimate within 20 business days to the
Director, Office of Management and Budget.

3. The Director, Office of Management and Budget shall return
the fiscal note estimate within 5 business days upon receipt
of the fiscal note estimate from the operating department,
branch, agency, or commission to the Legislative Budget
Officer.

4. The Legislative Budget Officer shall analyze the fiscal note
estimate received from the Director, Office of Management
and Budget within 10 business days and return it to the
bill's sponsor.

If the Legislative Budget Officer determines that a fiscal note
on a bill is required more quickly than the time requirement in
the Act, an emergency request shall be submitted to the Director,
Office of Management and Budget, and returned no later than 10
business days from the request date. Whenever an emergency
request for fiscal information is made, the regular non-emergency
request for the fiscal note must also be completed and submitted
following the procedures outlined above.

It is the policy of the Executive Branch to respond appropriately
within the time framework established by law. Therefore, it is
imperative that the above deadline be adhered to.

Richard F. Keevey
Director

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