13-27-227. Preparation of fiscal note. (1) If the proposal affects the revenue, expenditures, or fiscal liability of the state, the budget director shall determine whether a fiscal note is necessary. If a fiscal note is required, the budget director, in cooperation with the agency or agencies affected by the statewide ballot issue, shall prepare the fiscal note.

(2) The fiscal note must incorporate an estimate of the proposal's effect on the revenue, expenditures, or fiscal liability of the state, and the substance of the fiscal note must substantially comply with the provisions of 5-4-205.

(3) The budget director shall return the fiscal note to the attorney general.

(4) If a revised fiscal note is requested pursuant to 13-27-228, the budget director shall prepare a revised fiscal note within 3 days and provide the revised fiscal note to the executive director of legislative services division.

(5) A revised fiscal note produced pursuant to 13-27-228 does not trigger an additional attorney general review or a revision of the fiscal impact statement under 13-27-226.