Gov. Herbert and Utah Legislature announce consensus revenue estimates for upcoming legislative session
December 12, 2017
SALT LAKE CITY (Dec. 12, 2017) – Gov. Herbert and the Utah Legislature jointly announce new consensus revenue estimates for the State of Utah for the coming legislative session.
After about $35 million in transfers to various rainy day accounts and $60 million in earmarked funds, an estimated $382.4 million in new ongoing and $101.6 million in new one-time General Fund and Education Fund revenues will be available for appropriation in the 2018 legislative session.
The Governor’s budget recommendations will be released tomorrow (Wed., Dec. 13, 2017).
“Utah’s continued economic growth provides the revenues that will allow the State of Utah to make critical investments in our long-term future, including education,” said Gov. Herbert.
“A reliable state budget depends on a reasonable, conservative budget forecast,” said Senate President Wayne Niederhauser. “These consensus figures are encouraging and good news for our economy, but we must continue to be conservative when examining the entire budget to ensure we find the correct fiscal balance.”
“This revenue and economic forecast illustrates that Utah’s economy continues to thrive,” said Speaker Greg Hughes. “While these numbers are encouraging, we must continue our measured approach as we put together the state budget that addresses critical needs of this great state. We have some of the best legislative economists in the nation and I appreciate the hours they spent working on this forecast.”