The bill requests the JLBC staff to provide information to the Governor, the Speaker of the House and the President of the Senate on these forecasts. It is part of the balance sheets that were passed out in Caucus that explains which number is being used. The forecasts were done before language was ever drafted in the bill. It does not assume that any numbers have been triggered. She explained that the forecast numbers are based upon revenue projections determined by economic cycles Mrs. Pickens asked for clarification on page 23, line 6, Subsection B of the bill.
Triggers are the estimated forecast Triggers.
Triggers is the estimated forecast if no Triggers were activated in the fiscal year 2000 budget forecast. She explained that on page two of the distribution, Subsection B assumes that the Mining Severance Tax was triggered in the first year and no other triggers were accomplished. Mr. Wong asked whether or not there are four different Triggers. She stated if all the Triggers were met, it would be from eight percent to seven percent. Mr. Wong inquired about the amount of all eight Triggers.