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Long Bill Update

Since last December, with a slowing economy and expected reduction in state income receipts, Legislative Council decreased its five-year forecasts in March. The overall decrease in forecast-period revenues is around 1.3%, with a decrease in $486.7 million in General Revenue and $207.1 million in Cash Fund Revenue for the forecast period. In the short term, General Fund revenue will decrease by $169.6 million for FY 2007-08 and $148.6 million for FY 2008-09.

Released April 2008

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