The fiscal impact statement, or waiver thereof, shall be prepared by the Director of the Bureau of Budget and Management Research (BBMR), in coordination with the director of the department, agency or appropriate government instrumentality, affected by the initiative. The fiscal impact statement or waiver thereof prepared by BBMR shall be considered as the official document required for fulfillment of this Section.

The proponents of an initiative may commission an independent accounting firm to conduct a fiscal impact statement of its own for informational purposes, but proponents of any initiative measure may not present a waiver of its own of said fiscal impact statement.

SOURCE: Added by P.L. 31-283:2 (Dec. 31, 2012).