The Nebraska Economic Forecasting Advisory Board provided some optimism for the state\u2019s revenue outlook during its first meeting of the year Feb. 25.<\/p>\n
The board provides an advisory forecast of general fund receipts that the Legislature uses to craft the state\u2019s budget.<\/p>\n
During its October forecast, the board set revenue projections at $3.4 billion for fiscal year 2010-11, $3.4 billion for FY2011-12 and $3.6 billion for FY2012-13.<\/p>\n
The board projected that revenues for the current fiscal year would be $9.5 million less than predicted in October, but revised their outlook upward for FY2011-12 and FY2012-13 by $24 million and $30 million, respectively. <\/p>\n
Leading the higher revenue projections for the next biennium were sales tax revenues, which the board revised upward by $45 million. Holding revenue projections back were corporate income taxes, which the board revised downward by $40 million over the next three fiscal years. <\/p>\n
The next meeting of the board is Thursday, April 28.<\/p>\n","protected":false},"excerpt":{"rendered":"
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