BISMARCK, N.D. (AP) - An advisory group of North Dakota lawmakers, state officials and business leaders is recommending lower projections for tax collections when crafting the next state spending plan.
State Budget Director Pam Sharp told the panel Friday that tax collections already are more than $50 million lower than what was expected so far this year. The deficit was based on a previous revenue forecast done in November.
A dramatic drop in North Dakota tax collections due to depressed oil and farm commodity prices has had North Dakota scrambling to make up for potential shortfalls to the state treasury.
The recommendations by the group will be used to craft a new forecast expected next week by budget analysts. The Legislature has idled major spending bills until the new economic assumptions are released.
