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Eye On Boise

Revenue assessment committee goes over projections…

Derek Santos, chief economist for the state, is presenting his revenue forecast to the joint legislative Economic Outlook and Revenue Assessment Committee; Santos said he’s lowered his estimated growth for the current year, fiscal year 2014, to 2.1 percent from the previous 5.3 percent that he forecast a year ago, in part because 2013 grew so much more strongly than expected, and set his forecasted growth rate for next year, fiscal year 2015, at 6.4 percent, to $2.9878 billion.

Committee members have each submitted their own estimate as well; they range from a low of $2.8913 billion from Sen. Steve Bair, R-Blackfoot, to a high of $2.9777 billion from Rep. Steven Miller, R-Fairfield; all of the committee members’ 2015 figures came in below the governor’s. The committee median came in at $2.9377 billion. The median came in about $22 million above the governor’s estimate for the current year, but  $50.2 million less in revenue for fiscal 2015.

Once the committee has hashed through the forecasts, it’s scheduled to vote on its final report to the Legislature, settling on a figure.  That report then would be presented to JFAC in the morning. Legislative budget analyst Keith Bybee noted that while the committee members' projections varied, they didn't vary by a terribly large amount, and the final outcome was fairly close to the governor's with just the $50.2 million difference.

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Betsy Z. Russell covers Idaho news from The Spokesman-Review's bureau in Boise.

Named best state-based political blog in Idaho for 2013 by The Fix

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