Requires legislative fiscal impact notes to include objective calculations of anticipated economic impacts for next three years on state or political subdivisions.

This bill requires that when new legislation is proposed, it must include a detailed analysis of how that legislation will impact the state's economy and local governments over the next three years. These analyses should be based on objective calculations to provide a clearer picture of potential financial outcomes. The goal is to ensure lawmakers have a better understanding of the economic implications before making decisions.

Supporters of this bill argue that it will lead to more informed decision-making by lawmakers, as they will have access to clear economic forecasts related to proposed legislation. By requiring objective calculations, the bill aims to enhance transparency and accountability in the legislative process, ultimately benefiting the state's financial health and its citizens.

Critics of the bill may argue that requiring detailed economic impact analyses could slow down the legislative process and create unnecessary bureaucratic hurdles. They might contend that the objective calculations could be subjective or influenced by political agendas, potentially leading to misleading interpretations of the economic impacts of legislation.