As legislative leaders begin the final steps of putting together a budget proposal to present to both chambers of the Legislature for final passage, they will have an additional $97.6 million to spend.
On Thursday, the 14-member Legislative Budget Committee met to increase the estimate of the amount of taxes the state will collect for the upcoming fiscal year from $4.98 billion to $5.08 billion, or an increase of 1.6 percent.
The estimate represents the amount of money available for the 2013 Legislature to appropriate for the upcoming fiscal year, which begins July 1. The state’s financial experts – known as the revenue estimating committee – also had recommended that the estimate be raised for the current fiscal year by $60 million.
Northeast Mississippi Daily Journal
3/22/13
Magnolia Tribune
