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Legislators prepare for probable budget deficit
By ALISA ULFERTS
© St. Petersburg Times,
published August 31, 2001
TALLAHASSEE -- In preparation for an expected budget shortfall, state experts on Thursday walked a legislative committee through Florida laws that govern deficits.
If the expected deficit is less than 1.5 percent of the state's general revenue funds, then Gov. Jeb Bush figures out how to plug the holes and the Legislative Budget Commission approves the plan, commission members learned. With more than $20-billion in the general revenue budget, the cutoff would be about $300-million.
Already, shortfall estimates are running from $200-million to $600-million or more. If that number ultimately is more than the 1.5 percent, then a special session of the Legislature convenes.
Another committee, the Revenue Estimating Conference, is expected to agree on a shortfall amount on Sept. 13.
Already, Bush is holding back 1 percent of the budgets for some executive branch agencies in the first quarter of the fiscal year that began July 1.
And he's not alone. Other states are facing budget crunches of their own, and some are considering tax increases to avoid severe cuts in services.
Sen. Jim King, R-Jacksonville, asked whether Bush had to accept the figure named by the conference or could pull unused dollars from other accounts.
Senate budget expert Elton Revell said the revenue conference comes up with the figure, but the governor would certify it after consulting with conference members.
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