The Nebraska Economic Forecasting Advisory Board voted to raise revenue projections during a Feb. 26 meeting at the Capitol. The board provides an advisory forecast of general fund receipts used by the Legislature to craft the state\u2019s budget.<\/p>\n
Revenue projections for the current fiscal year and FY2016-17 were raised primarily based on anticipated increases in individual income tax receipts of $20 million in FY2015-16 and $25 million in FY2016-17.<\/p>\n
Total projected revenue receipts for FY2015-16 were raised to $4.42 billion, an increase of $17 million. Projected total revenue receipts for FY2016-17 were set at $4.57 billion, an increase of $13 million.<\/p>\n
The anticipated increases in income tax receipts were offset by projected downturns of $10 million per fiscal year in sales and use taxes.<\/p>\n
The new revenue projections bring the total in general funds available after preliminary budget recommendations from the Appropriations Committee to approximately $14 million for the biennium.<\/p>\n
The next board meeting is scheduled for Oct. 28.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Nebraska Economic Forecasting Advisory Board voted to raise revenue projections during a Feb. 26 meeting at the Capitol. The<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":true,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[17],"tags":[],"class_list":["post-18715","post","type-post","status-publish","format-standard","hentry","category-revenue"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/18715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18715"}],"version-history":[{"count":5,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/18715\/revisions"}],"predecessor-version":[{"id":18720,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/18715\/revisions\/18720"}],"wp:attachment":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}