DES MOINES, Iowa (AP) — State officials say a projected shortfall in Iowa’s roughly $7.2 billion budget has shrunk and will not require a special legislative session to fix.
The Iowa Department of Management and the Iowa Department of Revenue say the state budget that ended in June has about a $13 million shortfall. That figure is much smaller than projections earlier this summer.
The announcement Wednesday means Gov. Kim Reynolds will not have to call lawmakers back to the Capitol. She has authority without legislative action to transfer up to $50 million in emergency funds to plug a budget shortfall.
The nonpartisan Legislative Services Agency estimated earlier this summer a possible shortfall of about $100 million. State officials say final adjustments on a range of incoming revenue shrunk the expected shortfall.
LSA tax analyst Jeff Robinson later said data does show major revenue improvements in the final months of accounting.
Democrats in the Republican-majority Legislature expressed skepticism at the figures. State officials offered to meet with anyone to go over the numbers.
