SC economic advisors add $292 million in revenue

COLUMBIA, S.C. (AP) — South Carolina’s improving job outlook means legislators have an additional $292 million in one-time and recurring money as they craft the state’s 2012-13 budget.

The state Board of Economic Advisors on Tuesday certified an additional $137 million coming into state coffers above earlier estimates for the fiscal year ending June 30, as well as an extra $18 million in lottery sales. The board then added that $137 million to the base for 2012-13 revenue projections.

That means $155 million in one-time money and $137 million in recurring funds.

Chairman Chad Walldorf says the biggest catalyst was stronger-than-anticipated job growth.

The move adds to the board’s November boost of roughly $900 million. Walldorf says he hopes legislators use some of the windfall to pay down debt and return money to taxpayers.

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