§ 77-4601 — Estimate of General Fund net receipts; certification by Tax Commissioner and Legislative Fiscal Analyst

Nebraska § 77-4601

• Jurisdiction: Nebraska
• Ch. 77: Revenue and Taxation

Text

On or before July 15 of each year,
the Tax Commissioner and the Legislative Fiscal Analyst shall certify the
monthly estimate of General Fund net receipts for each month of the current
fiscal year. Such certification shall be filed electronically with the Clerk of the Legislature.
The certification shall include estimates of gross receipts to the General
Fund and refunds for sales, corporate income, individual income, and other
miscellaneous receipts and refunds by month. The total of the monthly estimates
for the fiscal year shall take into consideration the most recent net receipts
forecast provided during a regular legislative session by the Nebraska Economic
Forecasting Advisory Board pursuant to section 77-27,158 plus any revisions
due to legislation enacted which has an impact on receipts that were not included
in the forecast. If the total of monthly estimates so certified is at variance
with the estimates of the Nebraska Economic Forecasting Advisory Board, the
certification shall include a statement of the specific statistical or economic
reasons for the variance.

Legislative History

Source: Laws 1993, LB 38, § 1; Laws 2013, LB222, § 31.