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Finance, Revenue and Bonding committee adopts revenue estimates, reallocates $813.7M in volatile revenue to municipalities and trusts
Summary
The committee voted to adopt consensus revenue estimates and temporarily adjust the volatility threshold by $813.7 million to fund municipal grants, charter schools, and an early childhood trust; members cautioned the FY27 federal boost is a one-time timing shift.
The Finance, Revenue and Bonding Committee voted to adopt consensus revenue estimates after a staff overview and brief questioning, moving to apply a temporary $813,700,000 adjustment to the volatility threshold to support municipalities, schools and early childhood funding.
Representative Santiago, chairing the meeting, opened by stressing the meeting’s narrow purpose: “We are not here voting on the budget. We are here to accept the revenue estimates.” She told the committee that volatile revenues were stronger than expected — “about $300,000,000 over projections” — and that the package before members uses that surplus to address municipal pain and support hospitals through changes to the hospital tax system.
Why it matters: adoption of the revenue estimates establishes the…
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