5.12 WAYS AND MEANS COMMITTEE; RESOLUTION; EFFECT ON EXPENDITURES AND REVENUE BILLS. The Committee on Ways and Means shall hold hearings as necessary to determine state expenditures and revenues for the coming fiscal biennium.
In regular session, not later than 15 days following the last available state general fund revenue and expenditure forecast for the coming fiscal biennium prepared during the session, the Committee on Ways and Means shall adopt a budget resolution. The budget resolution shall set the maximum limitation on expenditures and revenues for the coming fiscal biennium for the general fund and an amount to be set aside as a cash flow account. The limitation is effective, if adopted, unless the Committee on Ways and Means adopts a different limitation in a subsequent budget resolution that accounts for increases or decreases in general fund revenues and expenditures anticipated for the current fiscal biennium.
Upon adoption of the budget resolution, the Committee on Ways and Means shall reconcile finance and revenue bills and upon request shall certify to the House that such bills do not exceed the limitation specified in the budget resolution.
A bill described in Rule 5.08 other than a major revenue or finance bill shall not be given its second reading until each major finance and revenue bill has received its second reading. However, a bill other than a major finance or revenue bill may be given its second reading after the House has received from the Committee on Ways and Means a statement certifying that the fiscal impact of the bill is or will be reconciled and within the guidelines of the budget resolution. All statements and certifications required by this rule may be reported orally by the Chair of the Committee on Ways and Means or a designee of the Chair. Major finance and revenue bills are:
the higher education finance bill;
the K-12 education finance bill;
the family and early childhood education finance bill;
the environment, natural resources and agriculture finance bill;
the health and human services finance bill;
the state government finance bill;
the economic development and housing finance bill;
the transportation and transit finance bill;
the judiciary finance bill;
the omnibus capital investment bill; and
the omnibus tax bill.
Each finance committee, finance division of a standing committee, the Committee on Capital Investment, or the Committee on Taxes, upon recommending passage of any bill described in Rule 5.08, shall provide to the Committee on Ways and Means a fiscal statement on the bill.