BISMARCK, N.D. (AP) — North Dakota continues to see bleaker-than-expected state tax revenue collections from declining oil activity in the state.
Office of Management and Budget Director Pam Sharp told a panel of lawmakers Tuesday that tax collections already are down $6.4 million since January. Gov. Jack Dalrymple on Feb. 1 ordered cuts in state government and a raid on a rainy day fund to make up for more than $1.1 billion in shortfalls. The recent drop is in addition to that.
Sharp says most of the decline is due to falling sales tax collections due to a drop in oil drilling and poor crude prices.
North Dakota Petroleum Council President Ron Ness told lawmakers that he doesn’t expect a turnaround for at least a year.
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