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<br />I <br /> <br />I <br /> <br />Status of Construction Fund <br /> <br />Approximatel.y $14 mil.llon is avaiLable in the construction <br />fund at this tIme, assuming no approprIations to the fund by the <br />1982 Gcncral Asscmbly (sec attachment). Thc $14 miiLion is net <br />of the cstimated cost of all authorized projects, including those <br />not yet under constructIon and for which actual expenditures have <br />thus not been made. <br /> <br />Status of Severance Tax Trust Fund <br /> <br />The severance tax trust fund, to which 50 percent of the <br />severance tax is credited, is projected to have a balance of <br />$28.9 miliion at the end of FY 81-82. Projected revenues <br />accruing to the trust fund over the next five years (through FY <br />86-87), based upon the present severance tax rates, total nearly <br />$211 million, as follows: <br /> <br />Fiscal Year <br /> <br />Total <br />Severance Tax <br />( $m ill Ion s ) <br /> <br />Distribution to <br />Severance Tax <br />Trust Fund <br />($mill ions) <br /> <br />82-83 <br />83-84 <br />84-85 <br />85-86 <br />86-87 <br /> <br />58.1 <br />70.5 <br />80.9 <br />101 . 1 <br />110.6 <br />421. Z <br /> <br />29.1 <br />35.3 <br />40.5 <br />50.6 <br />55.3 <br />210.8 <br /> <br />Source: Office of State Planning and Budgeting, November, 1981, <br />preliminary estimates. <br /> <br />JWM/gl <br /> <br />-3- <br />