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Sandoval: NV Tax Revenue Not On Pace With Demand

Gov. Brian Sandoval says he'll ask Nevada agencies to scale back their budget requests after the state's Economic Forum predicted less tax revenue than many hoped.

State agencies had requested $7.7 billion over the next two years, but the panel that makes the state's official revenue prediction estimated Wednesday that the state would only see $6.3 billion.

The Las Vegas Review-Journal reports the estimate doesn't include revenue from a set of temporary taxes that expire on June 30, 2015, but have been extended in the past.

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Sandoval issued a statement saying the state's revenue structure isn't built to meet the demands of the state's changing economy and growing population.

The estimates come a month after voters overwhelmingly rejected a ballot measure that would raise taxes on businesses to fund education.
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