AB 430

Bill Subjects

Abstract

Existing law requires the Governor to submit to the Legislature, on or before January 10 of each year, a proposed budget for the ensuing fiscal year that shall contain estimates of anticipated state revenues and itemized statements of all proposed expenditures of the state for that fiscal year. Existing law further requires the Director of Finance to submit to the Legislature, on or before May 14 of each year, revised estimates of General Fund revenues for the current fiscal year and the ensuing fiscal year. This bill would require the Governor's proposed budget following the succeeding fiscal year also to include estimates of revenues and expenditures for the 3 subsequent fiscal years as well as budget-related plans and proposals for those 3 fiscal years. In addition, the bill would require the Governor, among other things, to submit to the Legislature updated projections of revenues and expenditures for the budget year and the succeeding fiscal year by January 10, as part of the Governor's budget, and on May 15 and October 15 of each year.