Economists to give first glimpse of projected 2018 shortfall
FRANKFORT, Ky. (AP) - Kentucky taxpayers could get their first glimpse of a projected budget shortfall in 2018.
State economists are scheduled to meet Friday to adopt planning estimates for the current fiscal year plus the next four fiscal years. Kentucky finished the 2017 fiscal year on June 30 with a $138 million shortfall. Budget Director John Chilton has warned the state is likely headed for another shortfall in 2018.
The revenue estimates come as Republican Gov. Matt Bevin is planning to call a special session of the state legislature. The session could address changes to the state's tax code or its struggling pension system.
State officials announced Thursday that July revenues were up 3.1 percent compared to last year.