Louisiana’s Revenue Estimating Conference, a committee that projects state income, increased the state’s general fund forecast for this year by nearly $197 million.
But lawmakers can only spend about $87 million without raising the spending limit, a constitutionally-imposed cap that dictates how much lawmakers can spend each year.
The money gives lawmakers in the Senate enough funding to backfill cuts to teacher stipends and early childhood education if they want. But it leaves little room for spending after that.
If lawmakers want to spend the full amount this year, they have to agree to bust the state’s spending cap, which requires a two-thirds vote in both chambers.
Lawmakers have less than a month to pass a budget before the regular session ends on June 3.
