FISCAL IMPACT STATEMENT ACT

Creates the Fiscal Impact Statement Act. Provides that every executive order of the Governor, the purpose or effect of which is to expend any State funds or to increase or decrease the revenues of the State, either directly or indirectly, shall include a fiscal impact statement, and that the fiscal impact statement shall contain a reliable estimate of the anticipated change in State expenditures or revenues and a reliable estimate of the fiscal impact. Provides that, if an executive order affects bond authority or bond rates, the fiscal impact statement shall be prepared by the Governor's Office of Management and Budget, shall specify the estimated total effect on principal and interest, and shall include the total principal on all other then-outstanding bonds of the State. Provides for the preparation, filing, and publication of fiscal impact statements. Effective immediately.