Gov. says SD tax receipts lower than expected - KTIV News 4 Sioux City IA: News, Weather and Sports

Gov. says SD tax receipts lower than expected


PIERRE, S.D. (AP) -- Gov. Mike Rounds says South Dakota's tax receipts are falling below projections made just a couple months ago.

The governor says when he proposed a state budget in December, he expected tax receipts for this year to be down about 3.2 percent from last year. Based on poor sales tax collections in December, new projections indicate revenue could be down 6.2 percent for the year ending in June.

Rounds says he hopes tax collections will increase soon, but the new projections are reason for caution as the Legislature works on a new state budget.

Lawmakers hope to balance next year's budget without using reserves, but the governor says that will be difficult because most money is spent in the priority areas of education and Medicaid.

Powered by Frankly