The Massachusetts Water Resources Authority of Friday filed a $121 million suit against Massachusetts, alleging the commonwealth's fiscal 1992 budget illegally taxes the authority's ratepayers.

The lawsuit immediately triggered a downward revision of the state's non-tax revenue estimates for fiscal 1992. On Friday, state finance officials dropped the non-tax projections by $350 million -- including the water authority's $121 million -- to more than $4.2 billion from less than $4.6 billion.

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