Summary
Budget experts told lawmakers Wednesday that because of a quirk in local income tax distributions, the state would have $74 million less than expected in tax collections for the current budget cycle.
That means a budget shortfall that was once estimated at $130 million in fiscal year 2006, which ends June 30, may end up closer to $200 million, according to reserve statements released Wednesday.See the full content of this document
Extract
State Told Shortfall in Budget Gets Worse
Gov. Mitch Daniels set a goal of closing that $200 million gap ...
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