Board predicts Neb. will add $36M to cash reserve
LINCOLN, Neb. (AP) — A state board is predicting Nebraska will collect an additional $99 million in tax revenue, including $36 million for the government's rainy-day fund.
The Nebraska Economic Forecasting Advisory Board estimated Friday that the state will collect about $4.1 billion in the current fiscal year. The new projection is $36 million higher than previous forecasts. State law requires that it go to Nebraska's cash reserve.
Board members predicted the state will collect more than $4.2 billion in the next fiscal year, roughly $63 million more than initially expected. Most of that money will go to the state's general fund for future use.
The revenue projections could influence lawmakers as they finish proposed changes to the state budget. Gov. Dave Heineman is calling on lawmakers to use the money to lower taxes.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.