Latest report on state tax receipts

The Legislative Services Bureau has released its latest report on state tax receipts.  It includes tax collections through November 30, 2009.  The three-member Revenue Estimating Conference will meet in mid-December to review this report (and other data) and establish an official prediction of state tax revenue for the 2011 state budgeting year (FY 2011 runs from 7-1-10 through 6-30-11).  In early 2010, state lawmakers will begin crafting a budget for FY 2011 and state law requires that “prediction of state tax revenue” from the three-member Revenue Estimating Conference to be the basis (bottom line figure) for those budget plans.