LINCOLN, Neb. (AP) — Nebraska state government will collect an extra $90 million in tax revenue in the current fiscal year that ends June 30 but will face a less rosy outlook over the following two years, based on new state estimates.
The Nebraska Economic Forecasting Advisory Board on Friday lowered its revenue projections by $5 million over the following two budget years, starting on July 1.
The new predictions will give lawmakers about $38 million more than expected in the current legislative session, after adjusting for requirements of state law.
The projections will also trigger an automatic boost to a new state property tax credit program.