If after an initiated measure, initiated amendment to the South Dakota Constitution, or referred law is certified for the ballot pursuant to § 2-1-17 , the director must review any fiscal note prepared pursuant to § 2-9-30 or as described in § 2-9-32 . If the director determines that, because of changes to the state budget, state law, or other factors, the estimated impact of the provisions of the initiated measure, initiated amendment to the constitution, or referred law on the revenues, expenditures, or fiscal liability of the state or any agency or political subdivision of this state, described in the fiscal note, provided pursuant to § 2-9-30 or 2-9-32 , is no longer substantially accurate, the director must prepare an updated fiscal note, no earlier than July first nor later than August first, in the year of the election. The updated fiscal note may not exceed fifty words. The updated fiscal note must include an estimate of the impact that the provisions of the initiated measure, initiated amendment, or referred law may have on the revenues, expenditures, or fiscal liability of the state or its agencies or political subdivisions, for at least the first full fiscal year after the initiated measure, initiated amendment to the constitution, or referred law takes effect. The updated fiscal note expenditure estimate must also include any impact to the prison or county jail population. 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 updated fiscal note. The director shall file the updated fiscal note with the secretary of state and shall provide a copy to the sponsors not later than August first in the year of the election.
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