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A Type of Revenue That Can Be Both Alluring and Packed With Pitfalls
Route Fifty: When it comes to managing state revenues that won't flow reliably year after year, New Jersey's past practices provide a cautionary tale.
Between 2002 and 2006, lawmakers there used over $16 billion in "non-recurring" revenue and "cost deferrals" to fill budget gaps. There's no universal definition of what non-recurring revenue is. But, in general, the term refers to money that a state gets in one fiscal cycle and cannot expect to consistently collect in the future.
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