CSHCR 1(FIN): Creating the Long Range Financial Planning Commission.

00CS FOR HOUSE CONCURRENT RESOLUTION NO. 1(FIN) 01 Creating the Long Range Financial Planning Commission. 02 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 WHEREAS state spending has exceeded recurring revenue to the state; and 04 WHEREAS the state must eliminate the fiscal gap; and 05 WHEREAS the state is currently forced to deal with an unpredictable and declining 06 revenue stream; and 07 WHEREAS the state must find a means of stabilizing revenue and expenditures at a 08 sustainable level; and 09 WHEREAS the state's system of budgeting and spending must be analyzed and 10 reevaluated by the legislature; and 11 WHEREAS the citizens of the state should have an opportunity to consider these 12 topics, offer comments, and participate in developing a long-range financial plan for the state; 13 and 14 WHEREAS it would be beneficial to the state and its citizens to implement a long-

01 range financial plan to promote economic stability by diversifying the state's economy and 02 lessening dependence on oil revenue; 03 BE IT RESOLVED that the Alaska State Legislature establishes the Long Range 04 Financial Planning Commission in order to develop and recommend to the governor and the 05 legislature a long-range financial plan for the state; and be it 06 FURTHER RESOLVED that the commission shall consist of the following voting 07 members: 08 (1) nine members of the public, not to include members of the legislative, 09 executive, or judicial branches, appointed by unanimous agreement of the Speaker of the 10 House of Representatives, the President of the Senate, and the Governor; 11 (2) two members of the House of Representatives appointed by the Speaker 12 of the House; 13 (3) two members of the Senate appointed by the President of the Senate; and 14 (4) two members of the executive branch appointed by the Governor; and be 15 it 16 FURTHER RESOLVED that the commission shall select a chair and vice-chair from 17 among the public members of the commission, shall meet as frequently as the commission 18 determines necessary to perform its work, may meet during the interim, and may meet and 19 vote by teleconference; and be it 20 FURTHER RESOLVED that the public members of the commission shall serve 21 without compensation but are entitled to travel expenses and per diem as authorized under 22 AS 39.20.180 for boards and commissions; and be it 23 FURTHER RESOLVED that the commission may hire staff to carry out its duties; 24 and be it 25 FURTHER RESOLVED that the commission shall 26 (1) review and evaluate state fiscal policy and strategy recommendations and 27 assumptions from reports and publications from similar efforts in the past made by the 28 executive branch, the legislative branch, the University of Alaska, nonprofit organizations, and 29 private individuals and organizations; 30 (2) identify and evaluate all current state income sources and assets, including 31 recurring revenue, reserves, physical resources, and investments;

01 (3) identify and prioritize systemic changes to stabilize the state's revenue 02 stream; 03 (4) identify and prioritize major reductions in state expenditures, to include 04 formula and nonformula programs, and to include proposed consolidation, transfer, or 05 elimination of governmental services or programs; 06 (5) evaluate forward funding of the budget; 07 (6) identify and prioritize new sources of revenue; 08 (7) project a sustainable long-range financial plan for the next three years, five 09 years, and 10 years, based on a stable revenue stream; 10 (8) evaluate constitutional, statutory, and regulatory language relating to the 11 budget process and recommend changes; 12 (9) consider the division of responsibility for providing services and raising 13 revenue between the state and local governments and evaluate the effect of the long-range 14 financial plan on local governments; 15 (10) submit a preliminary report to the Governor and the Legislature by 16 July 15, 1995; 17 (11) disseminate information and solicit public comment; 18 (12) submit a final report to the Governor and the Legislature by October 1, 19 1995, recommending a long-range financial plan for the state, including specific actions and 20 legislation needed to implement and monitor the plan; and be it 21 FURTHER RESOLVED that the commission is authorized to begin work immediately 22 upon the appointment of its full membership or March 15, 1995, whichever date is earlier, and 23 is terminated upon the convening of the Second Regular Session of the Nineteenth Alaska 24 State Legislature.