North Dakota's Shortfall Grows -- November 21, 2015

The Dickinson Press is reporting:

North Dakota’s tax revenues fell short of projections by nearly $49 million in October, marking the third consecutive month of lower-than-expected collections and prompting the state budget office to discuss updating the forecast given to lawmakers in March.

Overall tax revenues are $112 million, or 7.5 percent, less than projected for the first four months of the 2015-17 biennium that began July 1.

Depressed crude oil prices and farm commodity prices continue to put a major dent in sales tax collections, which came in about $38 million, or 31 percent, below forecast in October, after being down $23 million in September and $44 million in August.

Back on September 23, 2015, we were first alerted to this.