Home Local News NEBRASKA BUDGET PASSES 1ST ROUND

NEBRASKA BUDGET PASSES 1ST ROUND

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NEBRASKA LAWMAKERS GAVE FIRST-ROUND APPROVAL LATE LAST WEEK TO THREE COMPONENTS OF THE STATE’S $12.975 BILLION DOLLAR BUDGET PACKAGE.

THE STATE BUDGET IS STRUCTURED ON A TWO-YEAR BASIS, WITH THE BUDGET ENACTED DURING LEGISLATIVE SESSIONS HELD IN ODD-NUMBERED YEARS.

THE APPROPRIATIONS COMMITTEE BUDGET PROPOSAL WOULD RESULT IN A PROJECTED ENDING BALANCE OF ALMOST $715 MILLION ABOVE THE 3 PERCENT REQUIRED MINIMUM RESERVE.

THAT AMOUNT WOULD BE AVAILABLE TO FUND PROPOSALS PENDING BEFORE THE LEGISLATURE THIS SESSION.

THE STATE’S CASH RESERVE FUND, WHICH IS OFTEN REFERRED TO AS THE RAINY DAY FUND, WOULD HAVE A BALANCE OF ALMOST $990 MILLION.