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Comptroller General updates council: DFAC revenue estimate, bond-bill timeline and $147 million in CRF requests
Summary
The Comptroller General told the council DFAC will meet Monday to set the revenue estimate ahead of joint finance markup; the Community Reinvestment Fund closed May 1 with applications requesting $147,000,000 in capital funding, and eligible lists have been shared with legislators.
The Comptroller General briefed the Legislative Council on the timeline for operating and capital budget work and the status of the Community Reinvestment Fund (CRF).
On operating budgets, the Comptroller General said DFAC will meet Monday at 1 p.m. to provide a final revenue estimate before the joint finance committee's markup, which will follow private chair meetings and then open voting sessions beginning Wednesday. For the capital side, the bond bill committee's planned markup is scheduled for June 23.
On the CRF, the controller reported the fund closed on May 1 and that lists of eligible applicants have been distributed to legislative members. "The total applications requested $147,000,000 in funding for capital projects throughout the state," the Comptroller General said. The controller also noted there are currently 133 active bills with fiscal notes and additional bills with fee impacts being tracked.
The controller acknowledged increased workload in staff review and said recommendations will be pulled together for the Joint Finance Committee's consideration before finalizing allocations in June.
