Lawmakers Anticipate Slight Bump in State Tax Collections
PIERRE, S.D. (AP) — South Dakota legislative budget-writers anticipate they will have slightly more money than previously expected when they set state spending this session.
The Legislature's Revenue Projection Subcommittee recommended Wednesday a general fund revenue projection of roughly $1.7 billion for the upcoming 2020 budget year that starts July 1. The recommendation is roughly $5.6 million more than Gov. Kristi Noem anticipated in her budget proposal last month.
Subpanel Chairman Sen. Justin Cronin says the recommendation is "very solid." Governor's office Chief of Finance Liza Clark says it's a conservative estimate.
The group is recommending a roughly $1.65 billion revenue target for the current budget year, up about $3.7 million from Noem's budget plan.
The Joint Committee on Appropriations is scheduled Thursday to debate the recommendations.
Lawmakers will revise the current year's budget and shape the next one this session.
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