| 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 Citation: | Neb. Rev. Stat. 77-27,156 |
| Parent Agency: | Executive Board of the Legislative Council and the Nebraska Department of Revenue |
| 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 |
| 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 |
| 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 |
| 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. |