State Agency Long-range Financial Plan

State agencies - long-range financial plan. The act requires each state agency to develop a long-range financial plan on or before November 1, 2019, and to update the plan each of the next 4 years thereafter. The department of state, the department of treasury, the department of law, and the judicial branch are required to publish the necessary components of the plan for their respective state agencies, and the office of state planning and budgeting is required to publish the components of the plan in its annual budget instructions for all other state agencies. A state agency is required to submit its long-range financial plan to the joint budget committee along with its annual budget request and post the plan on its official website.
(Note: This summary applies to this bill as enacted.)