New Kansas Revenue Projections on Horizon
Associated Press - April 10, 2014 7:09 pm
Kansas residents who buy health insurance on their own could see their premiums increase up to 25.4 percent next year under new rates approved by the state's Insurance Department this week.
A group of Kansas officials and economists will gather next week to study revenue projections for the coming year, determining if the state economy is growing and if tax receipts will keep government afloat.
Legislative leaders on Thursday gave differing views of what the projections for the fiscal year that starts July 1 may look like, but agreed that the state faces challenges.
Tax collections through March were $130 million above the forecasters’ November 2013 estimate. Next week’s projections are expected to be revised upward to reflect the growth, which will help legislators finish the fiscal 2015 budget when they return later in April.
Legislative staff project the state will maintain positive balances at least through the next fiscal year before budget cuts or revenue increases would be necessary.