SD Lawmakers Expect State Revenue Growth
by Associated Press
February 24, 2012 10:16 AM
The legislative committee putting together South Dakota's next state budget has decided that an improving economy will provide more revenue than had previously been expected.
Members of the Joint Appropriations Committee also said Friday the Legislature should be cautious in spending the extra money because rising gas prices and other factors could cause the economy to stall.
The committee adopted revenue estimates that show tax collections for the current year will be about $12 million more than Gov. Dennis Daugaard predicted when he presented his proposed budget three months ago. The panel expects revenue for next year will be about $10 million higher than the governor had predicted.
The committee will finish work on the budget next week and submit it for approval by the House and Senate.