The state Economic and Revenue Forecast Council met today and approved new forecasts for state revenues.

For the current 2011-13 biennium, the general fund-state forecast increased by $110 million; the education legacy trust account forecast decreased by $12 million; and the opportunities pathways account forecast increased by $11 million.

For the upcoming 2013-15 biennium, the general fund-state forecast increased by $121 million; the education legacy trust account forecast increased by $156 million; and the opportunity pathways account forecast increased by $5 million. (The 2013-15 increase for the education legacy trust account is not news to budget writers, as it is the result of the legislation enacted last week to undo the state Supreme Court’s “Bracken decision.”)

At the meeting, House Appropriations Chair Ross Hunter indicated that the the new caseload forecast, which will be adopted late today, is expected to provide about $90 million in savings for the 2013-15 biennium.