The Legislative Budget Board (LBB) is scheduled to meet Dec. 1 at 11 a.m. to discuss setting the constitutional spending limit on certain appropriations for the 2016-17 biennium. During the Dec. 1 hearing the LBB will consider 4 forecasts on the estimated growth rates which range from 11.68% to 15.71% on the 2014-15 base of $84.4 billion, according to the LBB Technical Memorandum.
During the Nov. 15, 2012 LBB meeting, before the start of the 83rd Session, the rate that was adopted was 10.71% and applied to a base amount of $70.4 billion.
The Revenue Estimate from the Comptroller's office has yet to be released for the 84th Session. The estimate will be another part of the calculations for appropriations during the 84th since it will provide the amount the state can expect to have for general purpose spending.
The House Committee on Appropriations intends to meet on Dec. 4 to hear invited tetimony regarding the State Spending Limit, overview of the Revenue Estimate, and budget drivers for the 84th Legislative Session.
Details on those budget hearings:
Legislative Budget Board
December 1, 2014, 11:00 AM
Senate Finance Committee Hearing Room
Capitol Extension, Room El .036
House Committee on Appropriations
December 4, 2014, 1:30 PM
House Appropriations Committee Room
Capitol Extension, Room E1.030