Richard Wilson, assistant director of the Bureau of Legislative Research, told the Arkansas General Assembly’s Joint Budget Committee that revenue will be down about $51 million in fiscal 2010, less than half the reduction expected by Gov. Mike Beebe’s administration.

Beebe issued a budget report last week that said state revenue would be down $103 million in fiscal year 2010, which begins July 1, with no surplus remaining from fiscal 2009.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.