Montana to lose $20M in revenues due to federal tax reform
HELENA, Mont. (AP) — Montana’s budget director says the state will lose about $20 million in state general fund revenues during the 2019 biennium because of federal tax reform.
The Great Falls Tribune reports that the figures unveiled on Thursday are far off from previous figures that estimated Montana would lose between $128 million and $76 million.
Budget Director Dan Villa said the number means a special session to mend budget woes will likely not need to happen.
He said there’s now a predicted ending fund balance of $123 million for Fiscal Year 2019.
Villa says there was some relief in having the smaller figure. He says the last thing Montana residents wanted was another special session.
Information from: Great Falls Tribune, http://www.greatfallstribune.com