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Home / NM: Lawmakers Gear Up for Special Session to Trim BudgetNM: Lawmakers Gear Up for Special Session to Trim Budget
Last Updated on Wednesday, 12 August 2009 02:19 Written by rslcpol Wednesday, 12 August 2009 12:16
From SantaFeNewMexican.com:
Gov. Bill Richardson and legislative leaders on Tuesday agreed to hold a one-day special session — likely in October — to cope with expected state budget shortfalls.
Before lawmakers convene in Santa Fe, a working group of legislative and executive representatives will try to work out a spending agreement, the Governor’s Office announced.
The special session will be limited to the budget. Richardson said he won’t consider any other measures.
Although they won’t get new revenue projections until Friday, state lawmakers already say the numbers are daunting, with a possible shortfall of between $300 and $400 million for the current fiscal year, and holes to patch on the 2009 fiscal year, which ended June 30.