Revenue Revisions in Oklahoma, South Carolina, Virginia
On February 13, the South Carolina Board of Economic Advisors adopted its revenue estimates for the 2014-15 and 2015-16 fiscal years, increasing state revenues by approximately $50 million over the two-year period. Revenue estimates include an additional $5.9 million in Educational Improvement Act funding and $12 million in lottery funding for 2015-16.
On February 16, Virginia’s governor announced an additional $136 million in state revenues available for the 2015-16 biennium. This comes in addition to revenues the governor identified earlier in the month, bringing the total available additional revenues for the biennium to $474 million.
On February 17, the Oklahoma State Board of Equalization released its , reducing the expected revenues for 2015-16 by $304.5 million to $5.7 billion.