First the bad news. Today the New Hampshire Supreme Court determined that the State could not have $110 million in a medical malpractice insurance fund (JUA). Originally proposed by the Governor a year ago as one way to help fund the state budget, the Court affirmed a lower court decision barring the state from access to the fund. Read the Court decision here.
The better news is
that the early returns for January 2010 suggest that revenues for the month will come in close to forecast. The January daily count shows a shortfall of $13 million compared to the forecast for January. But the shortfall is closer to $4 million for the month, because $9 million in expected Securities revenue was booked in December, not in January.
The shortfall for the year so far is $28 million. It looks now like January will not make that any worse.
The Center is estimating now that FY2010 state revenue will fall behind forecast by less than $100 million.
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