District of Columbia Council Rule 308 provides that the Council Budget Director may, at his or her discretion, prepare an economic impact analysis on permanent bills beginning January 1, 2016. The Office of the Budget Director is implementing this rule by preparing analyses on permanent pieces of legislation that are expected to have a fiscal impact of at least 0.1 percent of the District’s gross domestic product (GDP), or $123 million, and as staffing resources permit. The purpose of these statements is to offer Councilmembers an independent, data- and evidence-based resource for weighing the policy implications and economic costs and benefits of major pieces of legislation. These statements do not make policy recommendations, and their findings and conclusions are non-binding.
The economic and policy impact statement is not a substitute for the Chief Financial Officer’s (CFO) fiscal impact statements, which apply to every piece of legislation and address the impact of legislation on the District’s budget and four-year financial plan.
The Office of the Budget Director has issued the following statements: