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Missouri Digital News
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Mo. Digital News
Missouri Digital News
MDN.ORG:
Mo. Digital News
MDN.ORG:
Missouri Digital News
MDN.ORG:
Missouri Digital News
MDN.ORG
Mo. Digital News
Missouri Digital News
MDN.ORG:
Mo. Digital News
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Missouri Digital News
This is Aaron Cummins for Missouri Capital Caucus.
Missouri's budget shortfall was spared a further hit when the Missouri Supreme Court ruled that the state doesn't owe 244 million dollars in additional tax refunds.
The High Court's ruling means the budget shortfall remains at about 300 million dollars for the time being.
But, the future of the budget is in doubt because the case was sent back to a lower court.
That court can still order additional refunds for certain taxes collected by the state.
The governor's Chief Legal Counsel Glenn Norton...
Norton says construction projects at the state's universities are still on hold because of the uncertainty about what will happen in the case.
Senate Budget Chair Marvin Singleton says it's important to keep a wait-and-see approach.
Singleton says the state doesn't have a lot of choice on where it can freeze funding.
That would mean more than one hundred million dollars in university construction projects put on hold indefinitely.
The Governor's Legal Counsel Glenn Norton says the problem is actually the Hancock Amendment itself.
Voters approved the Hancock Amendment in 1980 as a way to limit government growth.
If the state's revenue grows at a rate that is much higher than the income of the average Missourian, the state has to issue refunds to taxpayers.
For Missouri Capital Caucus, I'm Aaron Cummins.
A Missouri Supreme Court ruling today/Thursday handed Gov. Bob Holden's administration a major victory against heightened budget problems. Aaron Cummins has the story from Jefferson City--
The High Court ruled the state doesn't owe taxpayers an additional 244 million dollars in Hancock tax refunds.
But, the case was sent back to a lower court for further hearings that could still lead to refunds for taxpayers.
Holden's Chief Legal Counsel Glenn Norton says that means the state's budget situation is still in doubt.
Construction projects at the state's universities have been suspended as the Holden administration tries to find a solution for the state's 300 million dollar budget shortfall.
From the state capital, Aaron Cummins, KMOX-News.
This is Aaron Cummins for Missouri Capital Caucus.
Missouri's budget shortfall was spared a further hit when the Missouri Supreme Court ruled that the state doesn't owe 244 million dollars in additional tax refunds.
The High Court's ruling means the budget shortfall remains at about 300 million dollars for the time being.
But, the future of the budget is in doubt because the case was sent back to a lower court.
That court can still order additional refunds for certain taxes collected by the state.
The governor's Chief Legal Counsel Glenn Norton...
Norton says construction projects at the state's universities are still on hold because of the uncertainty about what will happen in the case.
Senate Budget Chair Marvin Singleton says it's important to keep a wait-and-see approach.
Singleton says the state doesn't have a lot of choice on where it can freeze funding.
That would mean more than one hundred million dollars in university construction projects put on hold indefinitely.
The Governor's Legal Counsel Glenn Norton says the problem is actually the Hancock Amendment itself.
Voters approved the Hancock Amendment in 1980 as a way to limit government growth.
If the state's revenue grows at a rate that is much higher than the income of the average Missourian, the state has to issue refunds to taxpayers.
For Missouri Capital Caucus, I'm Aaron Cummins.