Georgia Passes $16B Plan, but Governor Wary

DeSue, Tedra
April 2003
Bond Buyer;4/29/2003, Vol. 344 Issue 31624, p4
Trade Publication
Georgia legislators passed a 16 billion dollar expenditure plan for the fiscal year of 2004 that includes a tobacco tax increase and relies on several accounting maneuvers. State governor Sonny Perdue will closely examine the plan because he is concerned that it does not address long-term structural problems. Perdue wanted a larger tobacco tax hike and criticized accounting maneuvers considered one-time fixes to balance the budget. About 130 million dollar would be transferred from the fiscal 2005 budget into the 2004 budget by accelerating withholding of state payroll taxes. Georgia is planning a sale of its 320 million dollar general obligation bonds.


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