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Senate leadership reports downward revision to revenue estimates; green-sheet distributed
Summary
Senate leadership distributed updated revenue estimates showing lower available one-time and ongoing funds than earlier consensus numbers and explained the shift as timing differences in taxpayer filings; leadership said the economy remains strong despite the downward revision.
Senate leadership provided an updated revenue report and distributed a green-sheet of new numbers during floor session. Senator Stevenson summarized the changes: prior consensus figures had shown roughly $1.3 billion in available funds (combining one-time and ongoing estimates) but updated estimates reduced the newly available amounts; for the current estimate cycle he cited lower new-money figures for one-time and ongoing revenues.
Stevenson attributed much of the change to the timing of taxpayer filings — some taxpayers filed early in expectation of federal changes last year, and those early filings affected earlier projections. He described certain prior allocations (prepayments) and internal decisions to set aside specific sums while awaiting clearer estimates. Despite the revision, Senator Stevenson said the economy remains strong compared with recent years and recommended cautious optimism.
Senators asked clarifying questions about the split between general fund and education dollars and about funds already committed to known expenditures (for example, prison construction). Senator Stevenson said more detailed breakdowns would be provided to interested members and noted that some prior appropriations were already spent or committed; he also indicated that certain large obligations remain outside the updated green-sheet numbers.
