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An Act Requiring Long-range Budget Planning
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 5 MRSA §1664, sub-§1, ¶F,  as enacted by PL 2005, c. 601, §1, is amended to read:
 
F.  Include statements of the bonded indebtedness of the State Government showing the debt redemption requirements, the debt authorized and unissued and the condition of the sinking funds; and
Sec. 2. 5 MRSA §1664, sub-§1, ¶G,  as enacted by PL 2005, c. 601, §1, is amended to read:
 
G.  Contain any statements relative to the financial plan that the Governor-elect or the Governor considers desirable or that may be required by the Legislature.;
Sec. 3. 5 MRSA §1664, sub-§1, ¶H  is enacted to read:
 
H.  Include a long-range plan for State Government. The long-range plan must describe the vision of the Governor-elect or the Governor for State Government for the next decade and how the proposed biennial budget fits into and moves State Government toward this long-range vision; and
Sec. 4. 5 MRSA §1664, sub-§1, ¶I  is enacted to read:
 
I.  Describe any imbalance between projected revenues and projected expenditures in future budget periods, including a statement of how any projected surpluses might be used and how any projected deficits might be eliminated.
 
SUMMARY
This bill requires that the state budget document include a long-range plan for State Government and describe any imbalance between projected revenues and projected expenditures.