Introduced
by
The executive recommendation for the Fiscal Year (FY) 2007-2008 Department of Labor and Economic Growth. This appropriates $1.345 billion in gross spending, compared to $1.231 billion, which was the FY 2006-2007 amount enrolled in 2006. Of this, $99.1 million will come from the general fund (funded by actual state tax revenues), compared to the FY 2006-2007 amount of $47.4 million. Another $355.5 million is from “restricted funds,” or earmarked tax and fee revenue, compared to $347.0 million the previous year. Note: Gov. Jenifer Granholm’s executive budget recommendations are premised on the legislature adopting a 2 percent tax on services which along with other tax increases and a proposed reduction in business taxes represents a net tax hike of approximately $1 billion.
Referred to the Committee on Appropriations
