Finance

The House agreed Thursday to establish the Joint Legislative Budget Oversight Committee as a way to continually examine and oversee the state budget. The committee would review agency expenditures and collections of receipts, agency compliance with state laws, and compliance with legislative policies and intent, among other things. The committee would have 20 members – 10 members of the House appointed by the Speaker of the House and 10 senators appointed by the Senate President Pro Tempore. At least three of the members from each chamber would have to be members of the minority party. Each member of the committee would serve two-year terms. The bill, House Bill 716, now goes to the Senate.