Budget’s Shortfall Estimates Revised

SALT LAKE CITY?New tax revenue estimates show that lawmakers will have to trim $138 million from the 2002 budget, instead of $157 million, during Wednesday’s special legislative session.

State budget director Lynn Ward said the previous $155 shortfall figure for both years was an indication of tax revenues, not an actual estimate.

The new projections, developed by a group of economists advising state budgeters, were released Tuesday and prompted Gov. Mike Leavitt to call today’s special session, to take place after interim study committees.

Representatives will consider pulling funds from state construction projects or from the state’s budgetary reserve.