DE HJR8

Creates an Advisory Panel to the Delaware Economic and Financial Advisory Council (DEFAC) to study fiscal controls and budget smoothing mechanisms.

Panel membership includes DEFAC leadership, state officials (Treasurer, Secretary of State, Secretary of Finance, OMB Director, Controller General), four legislative appointees, and three public members appointed by the Governor.

Panel shall review the May 2015 Revenue Report and develop a report addressing the state's 98% appropriation limit, restrictions on budget surpluses, and benefits of a budget stabilization fund.

Panel may hire paid consultants with aggregate fees and expenses not to exceed $50,000, with staff support provided by the Department of Finance.

Preliminary report must be submitted to the Governor and legislative leaders no later than May 1, 2018.