The single most useful document in state finances each year is the Department of Legislative Services Fiscal Briefing. The document, officially released and presented yesterday, details each component of the pending state fiscal plan and explains issues still pending before the General Assembly now in receipt of the governor’s spending plan.
Some highlights of particular value to county officials (links below go to specific pages):
- Note: The DLS Fiscal Briefing document reflects the administration’s fiscal estimate for exempting unemployment benefits from state and local income taxes ($70 million for the State and $40 million for local governments). However, the bill’s fiscal note estimates that the exemption would cost county governments $165 million in fiscal 2021 — four times more than the administration’s estimate).
For more coverage on the budget proposal, see Conduit Street‘s continuing analysis.
To watch the initial DLS presentation of the Fiscal Briefing before the two legislative budget committees (January 25), view online through the Maryland General Assembly website.