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Revenue adjustments give legislative budget writers an additional $50M to spend

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COLUMBIA, South Carolina — Adjustments made to South Carolina's revenue projections give legislators an additional $50 million to spend in next year's budget.

The state Board of Economic Advisors approved the revisions Friday, just before the House Ways and Means Committee puts together that chamber's budget proposal for the fiscal year that starts July 1. The full committee will craft its budget plan next week.

The biggest change occurred in lottery ticket revenue. The lottery agency expects ticket profits to be $12 million more both this fiscal year and next than originally predicted, accounting for nearly half of the total adjustments.

The economic advisers made no overall revenue change in taxes coming into the state's general fund.

The general fund is expected to grow by more than 4 percent from this year to next.

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