State finance.

Existing law requires the Governor to submit to the Legislature, on or before January 10 of each year, a proposed budget for the ensuing fiscal year that shall contain estimates of anticipated state revenues and itemized statements of all proposed expenditures of the state for that fiscal year. Existing law further requires the Director of Finance to submit to the Legislature, on or before May 14 of each year, revised estimates of General Fund revenues for the current fiscal year and the ensuing fiscal year. This bill would require the Governor's proposed budget to also include estimates of revenues and expenditures for the 3 subsequent fiscal years. In addition, the bill would require the Director of Finance to submit to the Legislature revised estimates of revenues and expenditures for the current fiscal year and for the 3 subsequent fiscal years on or before May 14, July 15, and September 15 of each year. For each of those revised estimates, the bill would require the Controller and the Treasurer to review the revised estimates and to submit an assessment of those estimates to the fiscal committees of each house of the Legislature and to the Director of Finance on or before specified dates.