As lawmakers grapple with filling a budget hole, a revenue failure could be delcared

Oklahoma State Capitol building

Oklahoma State Capitol

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OKLAHOMA CITY – Oklahoma revenue officials are likely to declare a revenue failure when a state board meets Tuesday to certify the amount of money lawmakers have to appropriate next year.

Preliminary figures from the Office of Management and Enterprise Services indicate collections by the general revenue fund are projected to fall 5.7 percent below estimates.

Finance officials are forced to declare a revenue failure when collections fall more than 5 percent below the estimate.

 

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