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New revenue projections reduce Utah’s FY2002 outlook by about $31.8 million
Summary
Fiscal analysts presented revised revenue estimates showing an approximate $31.8 million reduction, a $35.4 million fall in the Uniform School Fund and an overall projected decrease near $33.1 million for the 2002 budgeting period; lawmakers expressed concern about education funding and held tax-cut/education protection items in reserve.
The Utah House received updated state revenue projections on Feb. 15 that reduce the Legislature’s FY2002 outlook by roughly $31.8 million and show a $35.4 million drop in the Uniform School Fund.
Representative Alexander distributed the new figures to members and explained that the largest declines were in the Uniform School Fund and withholding (income-tax-related…
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