September 18, 2020
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HB 121

A bill to be entitled
2An act relating to economic and demographic research;
3requiring the Office of Economic and Demographic Research
4to annually perform certain economic impact analyses of
5certain legislation; requiring reports to the Legislature;
6providing reporting requirements; requiring the office to
7develop certain protocols and procedures for certain
8purposes; specifying requirements; requiring a report to
9the Legislature; providing an effective date.
11Be It Enacted by the Legislature of the State of Florida:
13     Section 1.  (1)  Each year, the Office of Economic and
14Demographic Research shall perform a longitudinal analysis of
15the economic impact of legislation that amends provisions of the
16laws of this state relating to taxation. Findings of the
17analysis shall be released in three annual reports. The first
18report shall be due to the President of the Senate and the
19Speaker of the House of Representatives by September 1 of the
20year in which the legislation is enacted and shall include an
21assessment of the likely impact of the legislation and a listing
22of the analytical measures to be used. The remaining annual
23reports shall address any changes in the measures detected over
24the prior year and shall provide an assessment of any deviations
25from the likely impact previously identified. The final report
26shall also include an in-depth comparison of the predictions
27contained within the cost-benefit analysis conducted prior to
28the policy decision with the actual results after
30     (2)  The Office of Economic and Demographic Research shall
31develop protocols and procedures for the consistent development
32of cost-benefit and return-on-investment techniques and their
33application to issues for consideration of special impact by
34Revenue Estimating Conferences. At a minimum, the protocols and
35procedures must address appropriate economic techniques to use
36in the analysis, the format for reporting results, and proposed
37linkages to the appropriations and revenue-forecasting
38processes, including any statutory changes that would be needed.
39Such linkages must be consistent with the constitutional
40requirement for a balanced budget. The office shall submit a
41report of its findings and recommendations to the President of
42the Senate and the Speaker of the House of Representatives by
43December 1, 2010.
44     Section 2.  This act shall take effect upon becoming a law.

CODING: Words stricken are deletions; words underlined are additions.
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