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Nebraska to get revenue boost for state’s rainy-day fund | KTIC Radio

Nebraska to get revenue boost for state’s rainy-day fund

Nebraska to get revenue boost for state’s rainy-day fund
Courtesy Photo/ Sen. John Stinner, Chairman of the Legislature's Appropriations Committee.

Lincoln, Neb. —  Nebraska government’s rainy-day fund will get a boost in tax revenue this year, based on new projections, but lawmakers still face a lot of uncertainty as they work to pass a new budget.

The Nebraska Economic Forecasting Advisory Board predicted Thursday that the state will collect an additional $45 million in the current fiscal year, which ends June 30. State law requires that money to into Nebraska’s cash reserve, or rainy-day fund.

Sen. John Stinner, the Appropriations Committee chairman, says the extra money will help after several years of tapping the fund to compensate for lower tax collections.

Board members also predicted a $10 million boost in the next fiscal year, but held the following year flat.

Gov. Pete Ricketts say the money should be used to lower property taxes.

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