JACKSON, Miss. (AP) – Faced with decreasing state revenue collections falling partly because of tax cuts, Mississippi’s Republican-led Legislature is moving to spend agency savings to prop up budgets.
The House and Senate Friday passed Senate Bill 2362 rolling 16 agencies with separate budgets into the state’s main General Fund budget. If Gov. Phil Bryant signs the bill, top budget writers say they’ll be able to spend $104 million from agency savings to fill deficits in the current budget year and pay for capital expenses in the budget beginning July 1.
The moves come as lawmakers Friday agreed that lagging tax collections meant they had to cut another $81.3 million from the current year’s revenue projection and cut $100 million from estimated collections for the upcoming budget, which must pass by Sunday.
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