2. Biennial economic assumptions. The commission shall submit recommendations for state economic assumptions review the most recent economic forecast developed by the Executive Department, State Planning Office and make any adjustments determined necessary for the next fiscal biennium and analyze economic assumptions for the current fiscal biennium, which must be approved by a majority of the commission members. No later than November 1st of each even-numbered year, the commission shall submit to the Governor, the Legislative Council, the Revenue Forecasting Committee and the joint standing committee of the Legislature having jurisdiction over appropriations and financial affairs a report that presents the analyses, findings and recommendations for economic assumptions related to revenue forecasting for the next fiscal biennium. In its report, the commission shall fully describe the methodology employed in reaching its recommendations.

Sec. AA-2. 5 MRSA §1710-B, as enacted by PL 1995, c. 368, Pt. J, §1, is repealed.

Sec. AA-3. 5 MRSA §1710-D, as enacted by PL 1995, c. 368, Pt. J, §1, is amended to read:

§1710-D. Staffing

The commission may receive staff support from the Executive Department, State Planning Office shall provide staff support to the commission and assist in the drafting of the commission's reports.

Sec. AA-4. 5 MRSA §1710-F, sub-§2, as amended by PL 1997, c. 157, §1, is further amended to read:

2. Biennial revenue forecasts. The committee shall submit recommendations for state revenue projections review the revenue forecasts provided by the Bureau of Revenue Services and the State Budget Officer on behalf of other state agencies and make any adjustments determined necessary for the next 2 fiscal biennia and analyze revenue projections for the current fiscal biennium, which.__The recommendation by the committee must be approved by a majority of the committee members. No later than December 1st of each even-numbered year, the committee shall submit to the Governor, the Legislative Council, the joint standing committee of the Legislature having jurisdiction over appropriations and financial affairs and the State Budget Officer a report that presents the analyses, findings and recommendations