The National Conference of State Legislatures (NCSL) has issued a fiscal brief that suggests that fiscal year (FY) 2012 will mark the second consecutive year state officials are forecasting state tax growth compared with the previous fiscal year.
According to NCSL, although most states are projecting tax collections to grow in FY 2012, two-thirds are anticipating growth of less than 5 percent. At the same time, officials in some states expressed concern about whether they will hit their collection targets.
NCSL believes that it is likely that many states will revisit their forecasts before legislatures convene their 2012 sessions.