2 Guam Code Ann. § 9104
Terms Used In 2 Guam Code Ann. § 9104
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
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2 Guam Code Ann. LEGISLATIVE BRANCH
CH. 9 FISCAL ACCOUNTABILITY ACT OF 1999
be fully effective, and for the next four (4) succeeding fiscal years.
(b) For non-appropriation bills, a fiscal note shall include, at least, but not limited to the following information:
(1) the cost of the proposed legislation to the government for the fiscal year in which it would become effective, if enacted, and for the next four (4) succeeding fiscal years. If the fiscal impact of the bill is not expected to occur within the operating fiscal year, the estimate shall be for the first fiscal year in which it is expected to be fully effective, and for the next four (4) succeeding fiscal years;
(2) whether or not the proposed legislation will establish a program or agency that will duplicate the function of an existing program or agency;
(3) whether or not there is a Federal mandate for the program or agency; and
(4) whether or not any new physical facilities will be required.