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Nebraska Economic Forecasting Advisory Board

General Information
  • Formal Name:
    Nebraska Economic Forecasting Advisory Board
  • Contact Person:
    Hoa Phu Tran Revenue Economist Manager 301 Centennial Mall South Lincoln, NE 68509 402-471-5896 Keisha Patent Legislative Fiscal Analyst PO Box 94604 Lincoln, NE 68509-4604 402-471-2263
  • Purpose:
    Develop a consensus projection of economic activity in Nebraska and provide an advisory forecast of General Fund revenue receipts.
  • How Many Affectable:
    The Board affects most, if not all, Nebraskans since the consensus General Fund revenue forecast is used to set the operating budget for the State of Nebraska.
  • How Many Served:
    Serves the entire State of Nebraska by producing the official General Fund revenue forecast, which aids in determining the budget.
  • Year Created:
    1984
  • Year Active:
    1984
  • Sunset Date:
    None
Authorization
  • Authorization Citation:
    Neb. Rev. Stat. 77-27,156
  • Parent Agency:
    Executive Board of the Legislative Council and the Nebraska Department of Revenue
Memberships and Meetings
  • Number Of Members:
    9
  • Who Appoints:
    Five members are appointed by the Executive Board of the Legislative Council and four members are appointed by the Governor.
  • Legislative Approval:
    No
  • Qualifications Of Members:
    Members of the Nebraska Economic Forecasting Advisory Board shall demonstrate expertise in the field of tax policy, economics, or economic forecasting.
  • Per Diem:
    None
  • Expense Reimbursement:
    Yes
  • Term Length:
    4 Years
  • Terms Rotate or Expire At Once:
    Terms Rotate
Meetings Required In:
  • Required FY 21-22:
    Two
  • Held FY 21-22:
    Two
  • Required FY 22-23:
    Three
  • Held FY 22-23:
    Three
  • Required FY 23-24:
    Two
  • Held FY 23-24:
    Two
Operations
  • Support Staff:
    No
  • Shared or Separate:
    Shared
  • FY 21-22 Budget:
    0
  • FY 22-23 Budget:
    0
  • FY 23-24 Budget:
    0
  • Other Funding Sources:
    None
  • Spending Authority:
    None
Accomplishments
  • Since July 1, 2020:
    Since July 1, 2020, the board has met in July 2020; October 2020; February 2021; April 2021; October 2021; February 2022; October 2022; February 2023; April 2023; October 2023; February 2024; and October 2024. At each of these meetings the board provided a consensus forecast of economic activity in Nebraska and determined the forecast of the General Fund revenue receipts.