South Dakota budget-writers set state revenue targets
PIERRE, S.D. (AP) – South Dakota lawmakers are projecting that they will have a little bit more money available than previously expected when they craft the state budget this session.
The Legislature’s Joint Committee on Appropriations set revenue projections Thursday that are slightly above collections anticipated in Gov. Kristi Noem’s budget plan from January.
The budget-writing panel set a general fund revenue target of roughly $1.7 billion for the upcoming 2020 budget year that starts July 1, up about $5.6 million from Noem’s budget.
Committee Co-Chairman Rep. Rep. Chris Karr says it’s a very “fiscally conservative and responsible” projection. He says it allows for a buffer from concerns over the agriculture industry or a potential economic slowdown.
The group also established a roughly $1.65 billion revenue target for the current budget year, about $3.7 million above Noem’s plan.