LINCOLN— Nebraska is now expected to collect an additional $204 million in the current fiscal year, according to new projections approved Friday. The Nebraska Economic Forecasting Advisory Board estimated that state revenue will come in roughly 4% higher than previous projections.

The board also raised its revenue forecast by $165 million for the next fiscal year that starts July 1 and $93 million for the following fiscal year. The board's decisions determines how much money is available to state lawmakers. In a statement, Gov. Pete Ricketts said the increased forecast gives the state the opportunity to reduce property taxes.

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