Fiscal note
Definition
A fiscal note is a written, nonpartisan estimate of how much a bill will cost or raise for state and local government, prepared by legislative staff before a vote. It summarizes the bill, its budget impact, and the assumptions behind the estimate.
Why it matters
Fiscal notes are one of the few nonpartisan checkpoints in the process, but the agencies supplying the underlying cost data can shade assumptions to help or kill a bill. Sponsors sometimes strip provisions specifically to avoid a large fiscal note, or delay a bill until late session so it passes without a public cost estimate.
Seen in the wild
Indiana's fiscal note for 2025 House Bill 1285 estimated that requiring schools to hire a behavioral interventionist would raise annual costs by $75,000 to $103,800 per position, a concrete number legislators used to weigh the bill's budget impact before voting.