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STATE OF CALIFORNIA DEPARTMENT OF FINANCE ECONOMIC AND FISCAL IMPACT STATEMENT (REGULATIONS AND ORDERS) STD. 399 (REV. 1212013) ECONOMIC IMPACT STATEMENT DEPARTMENT NAME CONTACT PERSON EMAIL ADDRESS

How to fill out economic and fiscal impact

How to Fill Out Economic and Fiscal Impact:

1. Start by researching and gathering relevant data on the project or policy that you want to assess the economic and fiscal impact of. This may include information on the expected costs, revenues, employment opportunities, and any potential changes to the overall economic landscape.
2. Identify the key stakeholders and decision-makers who will be involved in the assessment process. This may include government officials, policymakers, business leaders, community members, and other relevant parties.
3. Analyze the data and information collected to determine the potential economic and fiscal impacts of the project or policy. This may involve using economic models, conducting cost-benefit analysis, and considering various scenarios and assumptions.
4. Quantify the economic and fiscal impacts in terms of monetary values, job creation or loss, tax revenue changes, and other relevant indicators. This will provide a more concrete understanding of the potential outcomes.
5. Clearly document the methodology, assumptions, and limitations of your assessment. This is important to ensure transparency and credibility of the findings.
6. Communicate the findings and recommendations to the stakeholders and decision-makers in a clear and concise manner. Use visual aids, graphs, and charts to present the information effectively.
7. Seek feedback and input from the stakeholders to ensure that their perspectives and concerns are taken into account. This may involve organizing meetings, public consultations, or surveys.
8. Revise and refine the assessment report based on the feedback received. Consider incorporating alternative scenarios or additional analysis if deemed necessary.
9. Finally, ensure that the economic and fiscal impact assessment is integrated into the decision-making process. This may involve advocating for its use during policy discussions, budget allocations, or project evaluations.

Who needs economic and fiscal impact?

1. Government officials and policymakers: Economic and fiscal impact assessments are essential for informing policy decisions, budget allocations, and evaluating the effectiveness of existing programs.
2. Business leaders and investors: Understanding the potential economic and fiscal impacts of a project or policy can help guide investment decisions, identify growth opportunities, and manage risks.
3. Community members and advocacy groups: Economic and fiscal impact assessments provide valuable information for understanding the potential benefits and drawbacks of development projects or policy changes, helping communities make informed decisions and advocate for their interests.

By following these steps and considering the diverse range of stakeholders who may benefit from economic and fiscal impact assessments, you can ensure that the process is comprehensive and useful in informing decision-making.

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What is economic and fiscal impact?

Economic and fiscal impact refers to the analysis of the effects a particular policy, project, or event will have on the economy and government finances.

Who is required to file economic and fiscal impact?

Government agencies, organizations, or individuals responsible for implementing policies or projects that will have significant economic and fiscal consequences are required to file economic and fiscal impact reports.

How to fill out economic and fiscal impact?

To fill out the economic and fiscal impact report, one needs to analyze the potential impacts of the policy or project on various economic indicators and government revenues and expenditures.

What is the purpose of economic and fiscal impact?

The purpose of economic and fiscal impact analysis is to inform decision-makers about the potential consequences of their actions on the economy and government finances.

What information must be reported on economic and fiscal impact?

The economic and fiscal impact report must include projections of changes in economic indicators such as GDP, employment, and tax revenues, as well as estimates of government spending and revenue implications.