GA HB1112

Creates a five-member State Council of Economic Advisors (three appointed by the Governor, one by the House Speaker, one by the Senate President) to prepare and approve estimated ranges of available cash resources by July 1 for the next fiscal year budget and September 1 for the amended budget; the Governor's budget report must conform to these approved ranges

Requires budget units to submit annual financial estimates electronically and simultaneously to the Office of Planning and Budget, the House Budget and Research Office, and the Senate Budget and Evaluation Office no later than September 1 each year, and mandates that periodic work programs, allotment requests, and any approvals or denials also be filed simultaneously with all three offices

Grants the General Assembly, through the Legislative Services Committee and the House and Senate budget offices, authority to review, investigate, and direct changes to periodic work programs that do not conform to the General Assembly-approved budget

Establishes that beginning July 1, 2020, any state agency seeking to prevent appropriated funds from lapsing through contractual obligations or encumbrances must submit a written request to the Office of Planning and Budget and both legislative budget offices for approval; funds not properly requested shall lapse

Restricts redirection of remaining bond proceeds: amounts not exceeding $2 million may be redirected by majority commission vote with written notice to the legislature, while amounts exceeding $2 million may not be redirected without new legislation, and no single purpose may receive more than $2 million in redirected funds per fiscal year