Fiscal and Policy Notes
Legal, programmatic, policy, and economic and fiscal impact information for legislation introduced in each legislative session can be found in the fiscal and policy notes developed by analysts in the Office of Policy Analysis.
Generally, a fiscal and policy note prepared on a bill contains (1) a summary of the bill; (2) an estimate of the fiscal impact of the bill on the revenues and expenditures of State and local governments during the year in which the bill is to become effective and for the next four years following that year; (3) an overview of relevant existing law; and (4) an assessment of the bill’s economic impact on small businesses. A fiscal and policy note also identifies when a bill mandates an appropriation to a program as well as when it establishes a mandate on a unit of local government. When available, a fiscal and policy note may also incorporate background information about the bill’s introduction or associated programs and policies.
Subsequently, if an amendment included in a Third Reader or Enrolled version of a bill affects the original fiscal and policy note, staff develops and issues a revised fiscal and policy note. The most recent version of fiscal and policy notes are available on the Maryland General Assembly website.