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Thursday, April 4, 1991 / University Daily Kansan
Headmasters 808 Vargent 843-8888
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Kansas legislature is short balancing current budget
Group blames smaller revenue from tax for oil and gas
The Associated Press
TOPEKA - The amount of money the Consensus Revenue Estimating Group projects the state general fund will take in during the next 15 months was reduced yesterday by nearly $24 million.
The new estimate of general fund receipts reduced by $23.85 million the amount of money the Legislature will have available in putting together the state budget for the coming fiscal year.
A severe dip in the amount of revenue projected from the oil and gas sewerage tax caused the reduction in the volume made by the group last November.
Lawmakers already faced a lean budget year; with revenues now forecast to fall some $80 million short of the same level as the current fiscal year.
The group, made up of about a dozen state financial experts and university economists, meets twice a year to set revenue projections. The governor uses the November estimate to propose a budget in January and the Legislature uses the April estimate to pass a budget.
The estimators reduced by $26.7 million the amount of money the state now expects to collect from the severance tax the rest of this fiscal year and next fiscal year. They also reduced by $17 million the expected take from individual income taxes over the two fiscal years.
Other taxes, most notably corporation income taxes and compensating use taxes paid by banks and savings and loans, held the overall reduction to $23.85 million for the two fiscal years.
The group lowered the amount of money the state expects to take in during the final three months of the current fiscal year — April, May and June — and reduced the amount it expects to collect in fiscal 1992 by $22.87 million.
The reduction amounts to 0.5 of the total state revenue for the two fiscal years.
An aide, Mark Schmeller, said yesterday that Gov. Joan Finney would have no reaction to the report.
Most legislative leaders said the report could have been worse.
"It obviously would have been much more pleasant if that had been
a positive $23 million rather than a negative, but that doesn't break the bank," said Sien Gus Bogma, a Republican from Senate Ways and Measures Committee.
"We are very, very close to balancing the budget, and this will require some fine tuning," added Bogima to this slide. This "is a manageable amount."
Rep. Rochelle Chronister, R-Neodesha, ranking Republican on House Appropriations, said she was pleased that most of the reduction came in the severance tax.
"I think that's fairly positive," she said. "It means they are anticipating that income and sales taxes are going to be pretty positive. I think Kansas has weathered most of the recession pretty well."
The big reduction in expected severance tax revenue came because the estimators last November projected an average price for crude oil in fiscal 1992 of $35 a barrel, but lowered to that of 2012年。它 also projected an amount of oil production from 58.5 million barrels to 52 million barrels.
New plan for tax relief gets approval in House
The Associated Press
TOPEKA — A proposal to increase income taxes to pay for what supporters claim will lower the overall House approval yesterday and was sent to a skeptical Senate.
The House voted 64-61 to approve the bill, which would raise $119.6 million annually by raising income taxes. The money thus raised would be distributed to local school districts, and supporters say that it would enable those districts to avoid increasing their property tax levies.
The bill had relatively little support from Republicans, many of whom saw it merely as a method of increasing taxes to support state spending. The House's Democratic leaders, on the other hand, pass a significant milestone in the debate over property-tax relief.
"You have to look at it as a very important vote," said speaker Marvin Barkis, D-Louisburg. "Now, the Senate is going to have to decide whether it wants to deal with property taxes and taxes in general. The game shifts to the Senate."
The Senate has yet to debate a plan to increase taxes to finance property-tax relief this year. Both houses have rejected proposals to change tax rules and determine the value of different types of property for tax purposes.
The Senate's Republican leaders have said that there is growing opposition among party members to the idea of raising taxes.
BSU selects new leaders for 1991-92
Kansan staff report
Black Student Union elected its officers for the 1991-92 academic year last night at the university. All members attended the election.
The results were:
■ President — Shona Smith,
St. Louis sophomore.
Vice president — Darrin Johnson, Kansas City, Kan., senior.
■ Recording secretary — Natara Johnson, Kansas City, Kan, sophomore.
■ Corresponding secretary — Cassandra Turner, Lawrence junior.
■ Parliamentarian - Terrence Crumpton, Kansas City, Kan., junior.
ALL ROADS LEAD HOME TO THE HILL
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Get ready for a SIX-MONTH FREE RIDE as a new ALUMNI ASSOCIATION MEMBER.
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Your membership trip begins with the SENIOR COOKOUT, 5:30 p.m. April 24 in the Adams Center parking lot.
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Next stop is the COMMENCEMENT BREAKFAST. 8 a.m. May 19 for graduates and their families.
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As you leave town, remember to take along your JAYHAWK BANKCARD. It's the only VISA or MasterCard that lets you carry the KU mascot wherever you go.
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Remember, wherever your new life takes you all roads lead home to the Hill. As an Alumni Association member, you'll never be far away!
Watch for our brochure in the mail. We'll call you in mid-April about the bankcard-or call First Bank Card Center at 800-222-7458.