State tax revenue rebounded in May

Encouraging news that Nebraska's economy may be recovering.

State tax revenues rebounded in May, a sign that Nebraska's economy may be recovering and that lawmakers may not have to meet in an emergency session to again cut the budget.

The report released Thursday by the state says net tax revenue beat projections by more than 5 percent. The report followed a dismal April, when net tax revenue was nearly 15 percent below official projections that set the baseline for the budget.

Lawmakers have said that if revenue matched or exceeded projections in May and June, a special session to cut the budget probably wouldn't be needed. Gov. Dave Heineman says the May figures make him cautiously hopeful about the future but that he still expects bumps on the road to a broader economic recovery.