If the director of the Legislative Research Council determines in the review and comment under § 12-13-25 that an initiated measure or initiated amendment to the South Dakota Constitution may impact the revenues, expenditures, or fiscal liability of the state or any agency or political subdivision of this state, the director must notify the petition sponsor. If the director of the Legislative Research Council determines that an initiated measure or initiated amendment to the constitution in final form under § 12-13-25.1 may impact the revenues, expenditures, or fiscal liability of the state or any agency or political subdivision of this state, the director must prepare a fiscal note. The fiscal note must include an estimate of the impact that the provisions of the initiated measure or initiated amendment to the constitution may have on the revenues, expenditures, or fiscal liability of the state or any agency or political subdivision of this state, for at least the first full fiscal year after the initiated measure or initiated amendment to the constitution takes effect. The fiscal note expenditure estimate must also include any impact to the prison or county jail population. A fiscal note prepared pursuant to this section may not exceed fifty words. Any state agency, as defined in § 1-26-1 , or institution of state government must provide the information requested by the director for the purpose of preparing the fiscal note. The director shall file the fiscal note with the secretary of state and shall provide a copy to the sponsors not more than sixty days following receipt of the initiated measure or initiated amendment in final form pursuant to § 12-13-25.1 .
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