Preparing for the Legislative Session
The legislative session will start in just a few weeks on Feb. 3, but lawmakers have already been meeting to hear early details of this year’s economic outlook. All indications are we will have a flat budget year after a few years of revenue growth. This is primarily due to a slowdown in oil and gas, on which our state is still heavily reliant.
This slowdown is shown in the state’s December General Revenue Fund (GRF) collections, released this week. We received a total of $631.8 million, which is $11.2 million, or 1.8%, above collections in December 2018 but $8.9 million, or 1.4%, below the estimate for the month.
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