(a)      On or before December 1 of each year, the Committee shall submit, subject to § 2-1246 of this title, to the Legislative Policy Committee and the Governor a report with recommendations on fiscal goals for the State budget to be considered at the next regular session of the General Assembly, including:

            (1)      a recommended level of State spending;

            (2)      a recommended level of new debt authorization;

            (3)      a recommended level of State personnel;

            (4)      a recommended use of any anticipated surplus; and

            (5)      other findings or recommendations that the Committee considers appropriate.

      (b)      If the report recommends expenditures in excess of the annual increase in personal income, gross State product, or other data that the Committee used to measure the growth of the State's economy, the Committee shall provide the Senate and the House with an analysis as to the extent the recommendation exceeds those economic indicators.