DOVER, Del. (AP) - State lawmakers are staring at a possible $63 million hole as they begin work on fashioning a budget for the fiscal year starting July 1.
The legislature's Joint Finance Committee began its annual series of agency budget hearings on Wednesday after being told that Delaware's modest economic recovery will continue at a "frustratingly slow" pace.
Lawmakers also discussed a potential budget hurdle in the form of a $63 million tax refund request from a large, unnamed corporation. State officials are still investigating the company's claims that Delaware is not entitled to the corporate income taxes it paid because they stem from revenue earned elsewhere.
The budget proposal unveiled by Gov. Jack Markell last week did not account for the potential $63 million loss.
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