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N.D. (AP) – New state revenue estimates are due Thursday and lawmakers are bracing for more bad news due to a slumping oil and agriculture economy.
The forecast will contain the final numbers that lawmakers will use to finish their work on the state’s 2017-2019 spending plan.
North Dakota’s expected tax collections already have dropped more than $50 million so far this year, prompting an advisory group of lawmakers, state officials and business leaders to recommend lowering expectations for the new forecast.
The Legislature has idled major spending bills this session until the economic assumptions are released.
Analysts compile information from North Dakota’s Tax Department, budget office and to estimate the state’s tax collections for the next two years and gauge the health of North Dakota’s economy.