HB 5470 Summary

• Creates a 5-member governing board for the Senate Fiscal Agency including the Senate majority and minority leaders, appropriations committee chairperson, and 2 additional appropriations committee members (1 from minority party).

• Creates a governing committee for the House Fiscal Agency with membership varying based on whether the House has co-speakers or a single speaker (6-8 members total), including leadership and appropriations committee positions.

• Requires both fiscal agencies to develop and implement a letter rating system (A-F) for bills that amend or create new tax expenditures, based on rate of return per job created or proposed, with ratings included in bill analyses beginning October 1, 2012.

• Makes documents prepared by both fiscal agencies subject to the Freedom of Information Act, while protecting unpublished bills, amendments, special reports, and proposals from disclosure without the sponsoring member's consent.

• Establishes that fiscal agency employees are at-will, nontenured employees subject to discipline, demotion, suspension, or discharge by the governing board or committee.