Tenn. Funding Board Sets Growth Projections

AP

NASHVILLE (AP) – The State Funding Board has projected that Tennessee's general fund revenues could be up to $162 million more than expected this budget year.

The panel on Wednesday set official projections for the remainder of the current spending year and the one beginning July 1. Gov. Bill Haslam and lawmakers use the projections to plan the state's spending plan.

Depending on actual tax collections this year, the panel predicted general fund collections could grow between $247 million and $353 million in the upcoming budget year. That's a growth rate of between 2.9 percent and 3.65 percent.

Comptroller Justin Wilson, Secretary of State Tre Hargett and Treasurer David Lillard said the cautious predictions reflect concerns over high unemployment, low housing prices and inflation.

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