BISMARCK, N.D. (AP) - The North Dakota legislative appropriation committees have lowered expectations for tax revenue for the current budget cycle due to slumping oil and agriculture economies.
House and Senate appropriation committees trimmed the expected tax collections by $10 million on Tuesday for the two-year budget period ends on June 30.
An updated forecast of the state’s tax collections last week predicted North Dakota’s treasury would collect $46.3 million less than previously expected before its current two-year budget period ends. Appropriation committees adopted the forecast that assumes the treasure will collect $56.3 million less.
The state treasury also is expected to collect $103.2 million less than previously expected for the next two-year budget, from this July through June 2019. The appropriations committees did not amend that forecast.
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