1080

LAWS OF MARYLAND

Ch. 284

(2) IF THE BILL AFFECTS THE FUNDING OF A STATE
PENSION SYSTEM, AN ACTUARIAL ANALYSIS OF THE BILL IS ATTACHED TO
OR SUMMARIZED IN THE NOTE OR THE ANALYSIS IS WAIVED.

(B)  REQUEST FOR OR WAIVER OF ACTUARIAL ANALYSIS.

(1)  IF A BILL AFFECTS THE FUNDING OF A STATE PENSION
SYSTEM, THE STANDING COMMITTEE TO WHICH THE BILL IS REFERRED
SHALL ASK THE DEPARTMENT OF FISCAL SERVICES TO OBTAIN AN
ACTUARIAL ANALYSIS OF THE BILL.

(2)  THE ACTUARIAL ANALYSIS MAY BE WAIVED:

(I)  FOR A BILL PENDING IN THE SENATE, BY THE
PRESIDENT;

(II)  FOR A BILL PENDING IN THE HOUSE, BY THE
SPEAKER; OR

(III)  IF THE STANDING COMMITTEE CERTIFIES THAT
PROMPT ACTION ON THE BILL IS NEEDED TO CONDUCT LEGISLATIVE
BUSINESS, BY THE STANDING COMMITTEE.

(C)  PREPARATION OF NOTES AND NOTE WAIVERS.

(1)  UNLESS A FISCAL NOTE FOR A BILL IS WAIVED, THE
DIRECTOR OF THE DEPARTMENT OF FISCAL SERVICES SHALL HAVE THAT
DEPARTMENT OR ANOTHER UNIT OF THE STATE GOVERNMENT PREPARE THE
NOTE.

(2)  THE DEPARTMENT OF FISCAL SERVICES SHALL PREPARE A
WAIVER OF THE FISCAL NOTE FOR A BILL IF THE CHAIRMAN OF THE
STANDING COMMITTEE TO WHICH THE BILL IS REFERRED CERTIFIES THAT
PROMPT COMMITTEE ACTION ON THE BILL IS NEEDED TO CONDUCT
LEGISLATIVE BUSINESS.

(3)  WHEN A STANDING COMMITTEE ASKS FOR AN ACTUARIAL
ANALYSIS OF A BILL THAT AFFECTS A STATE PENSION SYSTEM, THE
DEPARTMENT OF FISCAL SERVICES SHALL:

(I)  OBTAIN THE ANALYSIS; AND

(II)  SUMMARIZE THE ANALYSIS IN THE FISCAL NOTE
OR ATTACH THE ANALYSIS TO THE NOTE.

(D)  CONTENTS OF NOTE.

(1) A FISCAL NOTE FOR A BILL SHALL CONTAIN AN
ESTIMATE OF THE FISCAL IMPACT OF THE BILL DURING THE FOLLOWING
FISCAL YEARS:

(I) FOR A BILL THAT AFFECTS THE REVENUES BUT
NOT THE EXPENDITURES OF THE STATE GOVERNMENT, THE YEAR IN WHICH
THE BILL IS TO BECOME EFFECTIVE AND THE NEXT 2 YEARS AFTER THAT
YEAR;