La. income forecasting panel reviewing new law
BATON ROUGE- 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 is trying to figure out what it's supposed to estimate.
Legislative staff members hope to have recommendations by December on how to comply with the law.