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Senate finance leaders report $31 million one-time uptick but warn of structural shortfalls
Summary
Senate Finance presented new revenue estimates showing a $31 million one-time increase and $263 million of ongoing revenue for 2012, but leadership identified a $50 million one-time shortfall to balance the budget and set targets of $60 million for education growth and $60 million for Medicaid undergrowth.
Senator Hilliard, reporting as appropriations leadership, distributed revised revenue estimates and outlined near-term budget priorities for the coming fiscal cycle.
Hilliard said the session—s updated figures produced a $31 million one-time increase above prior estimates and $263 million of ongoing revenue projected for 2012. Leadership told appropriations chairs their first charge is to locate $50…
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