2016 Delaware Code
Title 29 - State Government
CHAPTER 65. BUDGET AND FISCAL REGULATIONS FOR STATE AGENCIES
§ 6534. Revenue estimates.

(a) The Governor shall submit to all members of the General Assembly and the Controller General an estimate of anticipated General Fund revenues by major categories for the current and next immediate fiscal year. Such report shall be made not later than the 25th day of September, December, March, April and May, and the 20th day of June.

(b)(1) Anticipated General Fund revenue estimate figures shall be reported as net, i.e., anticipated refunds for overpayments of taxes and fees required by Delaware state law shall be subtracted by major categories for the current and next immediate fiscal year from gross estimates of anticipated General Fund revenues; and

(2) The Secretary of Finance shall report such revenue refund disbursements on all financial statements issued by the Department of Finance. Further, estimates of fiscal year revenues and disbursements prepared by the Delaware Economic and Financial Advisory Council (or its successor entity) shall follow this procedure.

(3) The Delaware Economic and Financial Advisory Council shall review the report described in § 8305(6)b. of this title and shall, based on such review and any other information as the Council deems appropriate, approve by majority vote no later than April 25 of the year following the issuance by the Division of Revenue of such report an estimate of the revenue loss to the State caused by tax preferences as that term is defined in § 8305(6) of this title.

62 Del. Laws, c. 68, § 47; 64 Del. Laws, c. 324, § 1; 65 Del. Laws, c. 87, § 95; 68 Del. Laws, c. 241, § 2.;