20A-7-513 - Fiscal review -- Repeal, amendment, or resubmission.
20A-7-513. Fiscal review -- Repeal, amendment, or resubmission.
(1) No later than 60 days after the date of an election in which the voters approve aninitiative petition, the budget officer shall:
(a) for each initiative approved by the voters, prepare a final fiscal impact statement,using current financial information and containing the information required by Subsection20A-7-502.5(2); and
(b) deliver a copy of the final fiscal impact statement to:
(i) the local legislative body of the jurisdiction where the initiative was circulated;
(ii) the local clerk; and
(iii) the first five sponsors listed on the initiative application.
(2) If the final fiscal impact statement exceeds the initial fiscal impact estimate by 25%or more, the local legislative body shall review the final fiscal impact statement and may, by amajority vote:
(a) repeal the law established by passage of the initiative;
(b) amend the law established by the passage of the initiative; or
(c) pass a resolution informing the voters that they may file an initiative petition to repealthe law enacted by the passage of the initiative.
Enacted by Chapter 236, 2005 General Session