Post by Logan on Jun 27, 2016 5:19:03 GMT -6
JACKSON -- Gov. Phil Bryant said Friday that he will call a special legislative session Tuesday to deal with a shortfall as Mississippi's 2016 budget year comes to a close, unless state collections make such a move unnecessary.
But state revenue would have to gush in the final month of the budget year to remove such a need. On Wednesday, Lt. Gov. Tate Reeves said the state needs to collect between $725 million and $750 million in June to avoid dipping into reserves. That would be a one-month record for state revenue.
The state Revenue Department collected $696 million in June 2015, although there are some small revenue sources that come from elsewhere.
"After reviewing the latest revenue collections, Gov. Bryant has developed a contingency plan that includes a special session on Tuesday, if necessary," Bryant spokesman Clay Chandler wrote Friday in an email. "He will make a final decision Monday morning. Any special session would be for the sole purpose of closing out fiscal year 2016."
Read more: www.cdispatch.com/news/article.asp?aid=51144
But state revenue would have to gush in the final month of the budget year to remove such a need. On Wednesday, Lt. Gov. Tate Reeves said the state needs to collect between $725 million and $750 million in June to avoid dipping into reserves. That would be a one-month record for state revenue.
The state Revenue Department collected $696 million in June 2015, although there are some small revenue sources that come from elsewhere.
"After reviewing the latest revenue collections, Gov. Bryant has developed a contingency plan that includes a special session on Tuesday, if necessary," Bryant spokesman Clay Chandler wrote Friday in an email. "He will make a final decision Monday morning. Any special session would be for the sole purpose of closing out fiscal year 2016."
Read more: www.cdispatch.com/news/article.asp?aid=51144