41-562. Powers and duties of the commission; definition

250 words·~1 min read·/az/title-41/41-562

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. The economic estimates commission shall determine and report to the legislature prior to January 15 of each year the following:

1. The estimated total personal income in Arizona for the next fiscal year.

2. The estimated total personal income in Arizona for the current fiscal year.

3. The estimated percentage change per capita of estimated total personal income in Arizona for the next fiscal year.

4. The estimated per capita personal income in Arizona for the current fiscal year.

B. Other state agencies shall assist the economic estimates commission in furnishing available data and information necessary for development of the required estimates. In no event shall the commission authorize an independent study or employ consultants in the performance of its duties.

C. The economic estimates commission shall determine and publish prior to November 15 of each year the maximum dollar amount which is expected to be available for legislative appropriation from state tax revenues pursuant to article IX, section 17 of the constitution for the succeeding fiscal year. The dollar amount available for appropriation from state tax revenues shall be computed by multiplying together the appropriation percentage limitation for the succeeding fiscal year and the estimated total personal income of the state of Arizona for the succeeding fiscal year.

D. For the purposes of this section, "total personal income" means the dollar amount that will be reported as total income received by persons in the state of Arizona by the United States department of commerce or its successor agency.