Board of Revenue Estimates Lowers FY 2014 State Revenue By $62 Million

A September 17 Baltimore Business Journal article reports that Maryland officials have lowered revenue estimates for the current fiscal year but are also predicting a 3.5% revenue rise for 2015:

The state Board of Revenue Estimates said Tuesday it expects state revenue for fiscal 2014 to come in at $15.33 billion, a nearly $62 million decrease from an earlier forecast of $15.39 billion. The fiscal 2014 year started July 1.

The numbers could drop even lower if lack of agreement in Washington D.C., on the budget and the debt ceiling causes a government shutdown, warned state Comptroller Peter Franchot, a member of the Board of Revenue Estimates.  …

The board, in its first look at fiscal 2015 revenue, also said it expects revenue to rise to $15.86 billion in fiscal 2015, an increase of 3.5 percent.