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House leadership presents revised revenue estimates, recommends no change to assumptions
Summary
Leadership briefed the House on new revenue estimates showing modest shifts: a $4.8 million one-year general-fund shortfall tied to corporate franchise receipts and about $7.7 million projected growth for the next fiscal year; leadership recommended keeping the session's revenue assumptions unchanged.
On Feb. 14, 1996, Representative Stevens presented updated revenue estimates to the Utah House of Representatives and urged the chamber to maintain the session's existing budget assumptions.
Stevens told members that the current fiscal-year (ending June 30) one-time estimates show a small net reduction to the general fund of about $4.8 million, and he attributed roughly $5 million of the corporate franchise tax shortfall to Micron’s six-month…
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