Requires the office of financial management to prepare a fiscal note for any bill introduced before the legislature that would result in a net increase in periods of incarceration in state adult or juvenile correctional facilities.

Provides that the fiscal note requirement applies, at a minimum, to bills that: (1) Add new crimes for which incarceration is authorized;

(2) Increase the periods of incarceration authorized for existing crimes;

(3) Impose or increase mandatory minimum terms of incarceration; or

(4) Modify the law governing the release of adult or juvenile offenders in such a way that the time of incarceration is increased.

Requires that, for each law enacted for which a fiscal note is required under this act, the legislature shall make a one-time transfer from the general fund to the state corrections special reserve account.

Requires the office of financial management to prepare a fiscal note for any bill introduced before the legislature that would result in a net increase in periods of incarceration in local adult or juvenile correctional facilities.

Provides that the fiscal note requirement applies, at a minimum, to bills that: (1) Add new crimes for which incarceration is authorized;

(2) Increase the periods of incarceration authorized for existing crimes;

(3) Impose or increase mandatory minimum terms of incarceration; or

(4) Modify the law governing the release of adult or juvenile offenders in such a way that the time of incarceration is increased.

Requires that, for each law enacted for which a fiscal note is required under this act, the legislature shall make a one-time transfer from the general fund to the local corrections special reserve account.

Creates the local corrections special reserve account in the state treasury.

Creates the state corrections special reserve account in the state treasury.