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Ways & Means reviews Ed Fund outlook after $30M downward revision and models $10M tax shift
Summary
Agency staff reported a $30 million downward revision to education spending compared with the Dec. 1 projection, and modeled a governor-proposed $10 million reallocation of purchase-and-use tax to the Transportation Fund with several options for using a one-time $104.9M general-fund transfer to reduce FY27 property-tax impacts.
Julia Richter presented the committee’s updated Education Fund outlook, telling members that newly submitted district budgets have reduced projected education payments by about $30 million from the December 1 projection and that this revision is the primary data change since last week’s modeling.
Richter walked the committee through several model columns the chair requested. She explained one scenario that permanently reassigns $10 million of purchase-and-use tax to the Transportation Fund while using an offset from meals-and-rooms tax to replace it, and she modeled alternative uses of a one-time general-fund…
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