The Legislative Fiscal Bureau’s latest projection suggests the state will take in $818.2 million more in tax revenue through mid-2021.
Of that, $409.1 million is slated for the rainy day fund, which is now expected to have a balance just north of $1 billion by the end of the biennium.
The new revenue and other factors mean an additional $451.9 million in the state’s coffers.
And that’s not all. The state had budgeted $212 million to give Foxconn via tax credits, but the LFB expects the state to fork over something in the $50 million to $75 million range.
What should the state do with the roughly half-billion dollars remaining after its deposit into the rainy day fund?