Posted at: 10/10/2013 11:37 AM
DES MOINES, Iowa (AP) - A panel of state budget experts predicts a slight increase in tax revenue during the current fiscal year.
The Revenue Estimating Conference met Thursday to project state revenue numbers. The three-member panel includes the governor's top budget adviser, the financial adviser to the Legislature and an independent member, Mason City economist David Underwood.
The group predicts net state revenue - made up of taxes and other sources - will come in at about $6.7 billion in the current fiscal year, which ends June 30. That represents a slight increase over the previous year, though a direct comparison is difficult because state lawmakers have changed some accounting practices.
The panel will meet again in December to set the revenue projection that Gov. Terry Branstad must use to craft his next budget.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)