La. income forecasting panel reviewing new law - KALB-TV News Channel 5 & CBS 2

La. income forecasting panel reviewing new law

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BATON ROUGE, La. (AP) - Louisiana's income forecasting panel is struggling with how to follow a new law sought by conservative Republicans.

The law requires the Revenue Estimating Conference to determine which dollars from fees and other dedicated funds are expected to appear annually, in hopes that could lessen future state budget shortfalls.

Lawmakers can't spend from funds beyond amounts recognized by the conference.

Previously, the four-member panel only projected the state's expected income from a specific series of taxes, licenses and fees - not all the pools of money available to state agencies.

With the new law, the four-member panel tried to figure out Thursday what it's supposed to estimate. Patrick Goldsmith, director of the House Fiscal Division, says legislative staff hopes to have recommendations by December on how to comply with the law.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

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