Provides that beginning with the 2013-2015 fiscal biennium, the Legislature must enact a budget bill that makes appropriations from the state General Fund and related funds for that fiscal biennium in an amount that does not exceed state General Fund and related fund revenues, as forecast by the Economic and Revenue Forecast Council.   Official Text and Analysis.

Requires a balanced budget beginning with the 2013-15 biennium. In addition, beginning with the 2013-2015 fiscal biennium, the Legislature must enact a budget bill that does not require appropriations from the state General Fund and related funds to maintain the continuing costs of current program and service levels in the next ensuing fiscal biennium in an amount that does not exceed state General Fund and related fund revenues for that fiscal biennium, as forecast by the Economic and Revenue Forecast Council. The balanced budget requirement does not apply to (1) an "early action" budget bill that makes net reductions in appropriations and is enacted between July 1 and February 15 of any year; (2) a budget bill that is enacted by a sixty-percent vote in each house of the Legislature; or (3) a fiscal biennium in which monies are withdrawn from the Budget Stabilization Account.

Creates a work group to study and make recommendations on the best practices for state budgeting. This act also modifies dates and requirements for budget parameters.

Beginning with the 2013-2015 fiscal biennium, the Legislature must enact a budget bill that makes appropriations from the state General Fund and related funds for that fiscal biennium in an amount that does not exceed state General Fund and related fund revenues, as forecast by the Economic and Revenue Forecast Council.

Striking amendment that requires the Legislature to enact a balanced budget in the current and ensuing fiscal biennia. Requires the Economic and Revenue Forecast Council to prepare a state budget outlook.

Requires the Legislature to enact a balanced budget in the current and ensuing fiscal biennia. Requires the Economic and Revenue Forecast Council to prepare a state budget outlook.