State budget.

Existing law requires the Governor to submit to the Legislature, within the first 10 days of each calendar year, a budget for the ensuing fiscal year. Under existing law, the budget is required to contain a complete plan and itemized statements of all proposed expenditures and all estimated revenues of the state for the ensuing fiscal year, together with a comparison with the actual revenues and expenditures for the last completed fiscal year, the estimated revenues and expenditures for the existing fiscal year, and the budgeted revenues and expenditures for the next fiscal year. Existing law further requires the Director of Finance to provide to the Legislature, on or before May 14 of each year, an estimate of General Fund revenues for the current fiscal year and the ensuing fiscal year, any proposals to reduce expenditures to reflect updated revenue estimates, and specified proposed adjustments to the Governor's Budget. This bill would require the Director of Finance to submit, at the time of the submission of the budget by the Governor, or as soon thereafter as feasible, total recommended state General Fund expenditures and estimated state revenues, which include (1) an estimate of total General Fund resources, including any proposed resources, available for state General Fund expenditures for the budget year and the succeeding 3 fiscal years, (2) a 5-year capital infrastructure plan, (3) a projection of anticipated state expenditures for the budget year and the succeeding 3 fiscal years, and (4) to the extent possible, projections applicable to the budget year from the previous 4 enacted Budget Act projections. The bill would require specified parts of this information to be updated, as soon as feasible, within specified times.