Michigan last week released revised revenue estimates for fiscal 2009 through Sept. 30 and the next fiscal year that project a $1.3 billion gap in the current fiscal year and a $1.7 billion one in the next.

The new projection came from Treasurer Robert J. Kleine, Senate Fiscal Agency director Gary S. Olson, and House Fiscal Agency director Mitchell E. Bean. They form the state’s revenue estimating conference, which is responsible for revenue forecasts. The state will use the new estimates to craft a fiscal 2010 budget.

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