Growth in revenue for the state this year is steady and slow. That was the testimony presented to the House Revenue and Taxation Committee this morning.
During an organizational meeting for the committee, members were presented with a report showing the current growth rate for revenue is 1.5%. Six months into the fiscal year, there is now $38.2 million more in revenue than this time last year.
The forecast from the Bureau of Legislative Research indicates we will fully fund this year’s budget with perhaps a small surplus.
Education, Judiciary, and Public Transportation all held organizational meetings today as well. Each committee was presented with information that will be important to the decisions facing them in the days and weeks ahead. Committees are expected to hear bill presentations and begin voting on legislation next week.
The House will reconvene on Tuesday at 1:30 p.m.