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Legislative finance forecast shows $485 million in new revenue; consultant warns of federal funding shortfall and possible special session
Summary
A consultant to the council summarized the legislative interim: the Legislative Finance Committee’s revenue forecast showed $485 million in new revenue, a possible special session in late September to address a federal funding shortfall tied to the 'big beautiful bill,' and projected multi-year shortfalls for programs such as Medicaid and SNAP.
A consultant representing Bernalillo County briefed the Local Government Coordinated Council on the legislative interim, a revenue outlook and the possibility of a governor-called special session to address federal funding changes.
"We have $485,000,000 in new revenue," the consultant reported, citing the Legislative Finance Committee’s most recent revenue estimate. The presenter said that while state revenues continue to grow, the year-over-year increase is smaller than last year’s and legislators…
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