REC PREDICTION: Tax Revenue Increase Expected

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The latest forecast of state revenue is looking up.

The three-member Revenue Estimating Conference met Thursday at the State Capitol.

The group estimates the state will bring in $171 million more in tax revenue this fiscal year compared to last. Looking further into the future, the conference expects tax revenue to grow another three-percent in fiscal year 2014.

By law, the governor and legislature must base Iowa’s budget on the REC’s estimates.