revenue

Florida likely will see lower-than-expected revenues from a landmark settlement with the tobacco industry because fewer people are smoking or smokers are cutting back.

Getting ready for the possibility of a special legislative session to balance Florida’s budget, Gov. Ron DeSantis’ administration and top House and Senate appropriations staff have called on state agencies to draw up ways to slice 8.5 percent from their current budgets to address “the expected shortfall” as a result of the COVID-19 pandemic.

The state’s chief economist, Amy Baker, says the state’s transportation trust fund – that’s the money pot funded with fuel, tag and license taxes, will…