Requirement of Fiscal Impact Statement

A fiscal impact statement shall be required for all initiatives that have an effect upon the revenues or the expenditure of any funds of the 07312013 CH. 16 INITIATIVE, REFERNDUM AND LEGISLATIVE SUBMISSION government of Guam. A waiver of a fiscal impact statement shall be required for all measures that do not have an effect upon the revenues or the expenditure of any funds of the government of Guam. No initiative shall be presented to the electorate by the Commission, unless a fiscal impact statement or waiver thereof is submitted.