What are Tax Expenditures
Tax Expenditures: The subsidies offered via the taxation systems by generating deductions, credits and exclusions of certain kinds of income or expenditures which would otherwise be taxable.
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Budget Bill: The legislation symbolizing the Governor’s proposal for spending authorization for the subsequent fiscal year. The Budget Bill is all set by the Department of Finance and submitted to each house of the Legislature i
Legislative Information System (LIS): An on-line system formed and employed by the Department of Finance to maintain existing information regarding all bills introduced in the Assembly and Senate for the current 2-year session, and fo
For a specified IOS and MCC, how do financial managers decide which proposed capital budgeting projects to accept, and which to reject? For a specified IOS and MCC, all independent projects that plot on the IOS above the MCC are accepted. Those
Subcommittee: The smaller groupings into which the Senate or Assembly committees are frequently divided. For illustration, the fiscal committees which hear the Budget Bill are classified into subcommittees usually by departments or subject area (examp
Reimbursement Warrant (or Revenue Anticipation Warrant): A warrant which has been sold by the State Controller’s Office, as an outcome of a cash shortage in th
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