House Appropriations Committee adopts preliminary state revenue forecast

The House Appropriations Committee voted to adopt a preliminary state revenue forecast on a motion from Representative Munson, seconded by Representative Steaman, authorizing Legislative Council to adjust budget status reports to reflect the adopted base-level revenues.

The vote, taken by roll call, was recorded as 20-0 in favor. The motion directs Legislative Council staff to track appropriations against the adopted preliminary revenue numbers as the session proceeds.

The committee heard the forecast presentation from Adam Mattek, legislative council fiscal analyst, who framed the recommendation as a preliminary step ahead of a final revenue forecast in March. "This is just a very high level summary," Mattek said as he walked members through a multi-page memorandum showing comparisons among the Armstrong executive budget, the S&P Global baseline and the committee's proposed figures.

Mattek explained the committee's proposed forecast method: average the first four major tax-type forecasts between the Armstrong executive budget and S&P Global, while carrying the Armstrong figures for smaller tax categories unless…