KRS 48.120: Preliminary and official revenue estimates to be provided by Office of State

Budget Director -- Appropriations to be based on official revenue estimates.

(1) By September 30 of each odd -numbered year, the Office of State Budget Director,

in conjunction with the consensus forecasting group, shall provide to each branch of

government preliminary revenue estimates. The preliminary revenue estimates shall

include:

(a) A baseline analysis and projections of economic conditions and outlook;

(b) Any poten tial consequences of the analysis and projections for the

Commonwealth's fiscal condition;

(c) The revenue estimates and implications for the general fund and road fund for

the current fiscal year and next two (2) fiscal years; and

(d) Projections of perso nal income, employment, and economic indicators that

reflect economic conditions.

(2) By December 20 of each odd -numbered year, the Office of State Budget Director

shall certify and present to the Legislative Research Commission the official

revenue estimates made by the consensus forecasting group for the general fund and

road fund for the current and next two (2) fiscal years.

(3) Appropriations made in the branch budget bills enacted for each branch of

government shall be based upon the official revenue estimates presented to the

Legislative Research Commission by the Office of State Budget Director under

subsection (2) of this section, as modified by the General Assembly.

(4) The enacted estimates shall become the official revenue estimates of the

Commonwealth upon the branch budget bills becoming law, and shall remain the

official revenue estimates of the Commonwealth until revised by the consensus

forecasting group as provided in KRS 48.115.