House Bill 297 Summary

• Creates reporting requirements when fund balances in any occupational licenses fund detail exceed 125% of the five-year rolling average of annual expenditures, requiring the division to report to the joint finance-appropriations committee and germane legislative committee to determine rectification plans including potential fee reductions and holidays.

• Requires reporting to the joint finance-appropriations committee and germane legislative committee when fund balances fall below 10% of the five-year rolling average of annual expenditures, with rectification plans to include potential fee increases.

• Mandates monthly reports on revenues and expenditures for each board and commission submitted within 20 business days after month-end to the legislative services office budget and policy analysis division and to the respective board or commission.

• Requires annual year-end reports on revenues and expenditures for each board and commission submitted to the budget and policy analysis division no later than December 31, with format determined by that division.

• Effective date is July 1, 2023, and declares an emergency exists for the act.