JBC staff propose using severance-tax reserves and targeted cuts after revenue forecast drops
JBC staff told the Joint Budget Committee that a downturn in severance-tax receipts leaves programs that rely on those dollars at risk and proposed using reserves and targeted general-fund appropriations to preserve core services while cutting lower-priority items.
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Mark Ferrendino, SPV director, told the Joint Budget Committee that the state’s severance-tax forecast has fallen sharply since the last projection and that staff are proposing a package of reserve draws, transfers and targeted general‑fund spending to keep programs running.
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