Panel to update Delaware revenue forecast

By Associated Press 8:24am, March 18, 2013
The panel that sets Delaware's official revenue projections is meeting to update the state's official financial forecast.

Members of the Delaware Economic and Financial Advisory Council are scheduled to gather Monday for their first meeting of the year.

The group last met in December, when it increased its revenue estimate for the current year by $37.7 million from its previous forecast. It also added about $20 million to its revenue forecast for the fiscal year starting July 1.

Those numbers were the basis for Gov. Jack Markell's January budget proposal, which is now being reviewed by state lawmakers.

But lawmakers are still staring at a possible $63 million hole in the proposed budget involving a tax refund request from a large, unnamed corporation.

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