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ALC Executive Subcommittee Authorizes Contract with REMI for Dynamic Scori ng Model
Summary
The ALC Executive Subcommittee approved a contract with REMI to provide a dynamic economic scoring model to supplement static fiscal impact statements. Members cited faster turnarounds, no usage caps, and potential for better-informed legislation; the bureau will adopt procedures for requesting and producing impacts.
The ALC Executive Subcommittee voted to authorize the Bureau of Legislative Research to enter a contract with REMI to provide a dynamic economic modeling program, the panel decided during an executive-subcommittee meeting.
Representative Lundstrom, the member who introduced the effort, said dynamic scoring would give legislators a fuller picture than static fiscal impact statements. “We need to see not only the front of the picture but the back of the picture… we’re asked to make multimillion-dollar decisions with 1 economic impact statement,” Representative Lundstrom said.
The REMI team—Dr. Peter Evangelakis, senior vice president of economics and consulting; David Ingram, senior economic associate; and Scott Lerer, assistant business administrator—told members the model uses decades of…
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