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Legislative budget office and Department of Revenue brief Ways and Means on unrestricted revenue estimating process
Summary
Legislative Budget Assistance staff and the Department of Revenue explained how the committee will develop unrestricted revenue estimates for the General Fund, Education Trust Fund, Highway Fund and Fish and Game Fund, described data sources and timing, and flagged recent trends in business taxes, meals-and-rooms and tobacco revenue.
Chris Shea of the Legislative Budget Assistance office told the House Ways and Means Committee the panel’s charge is to produce unrestricted revenue estimates for the General Fund (including the Education Trust Fund), the Highway Fund and the Fish and Game Fund.
The estimates, Shea said, reflect collections under current law; changes enacted later in the session are tracked separately on a surplus statement and netted against the committee’s figures. He described the office’s worksheet and schedule process, how agency estimates feed the committee spreadsheets, and how committee numbers are memorialized in a resolution for the House floor and as an amendment to House Bill 1 (the operating budget).
Lindsey Stepp, Commissioner of the Department of Revenue Administration (DRA),…
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