April 20, 2020: Oklahoma facing $1.3 billion hole in coming budget year (Tulsa World)

The COVID-19 epidemic and collapse of the global oil markets has dealt a $1.3 billion blow to the state’s revenue outlook for the next budget year, officials said Monday. That’s how much state general revenue is expected to fall in fiscal year 2021, which begins July 1, the state Board of Equalization was told when it met Monday afternoon to certify a revenue shortfall of more than $400 million for the current budget year.

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