OH HB320

Create the Long-range Financial Outlook Council consisting of 15-21 members, including financial experts appointed by the Ohio Legislative Service Commission, Director of Budget and Management, Speaker of the House, and President of the Senate by March 1, 2018.

Council must conduct annual reviews of the state's current fiscal position, state debt, budget requirements, revenue estimates, and economic forecasts to provide impartial financial information to the General Assembly.

Council must issue an annual long-range financial outlook report by September 1 each year, beginning September 1, 2018, including projections of financial needs and resources for the next four fiscal years and revenue estimates.

General Assembly must meet in joint convention by January 31 annually beginning in 2019 to receive the council's most recent report, with the House clerk reading the executive summary.

Governor must include a review of the most recent long-range financial outlook report in the biennial executive budget proposal submitted to the General Assembly.