Committee told March transportation revenues fell about $2.9 million short of forecast

Summary

Legislative staff presented March collections for the Transportation Fund and the smaller TIB fund, showing a $2.9 million monthly shortfall and a roughly $2.3 million year-to-date deficit against the January forecast; staff encouraged continued monthly monitoring and noted final year totals will be trued up in June.

Logan Mover, a member of the Joint Fiscal Office staff, told the Joint Fiscal Committee on April 15 that March collections for the state Transportation Fund came in below the January consensus forecast by roughly $2.9 million for the month and about $2.3 million year to date.

“This is where every month I’ll sort of update these,” Mover said, describing a set of four monthly spreadsheet reports posted on the General Assembly website that break transportation receipts into gasoline and diesel taxes, purchase-and-use taxes, motor vehicle fees and other taxes and fees.

Mover said most major revenue categories in March were below target; diesel was the lone category above forecast for that month. He told the committee that the cumulative year-to-date shortfall was roughly 1…

Committee told March transportation revenues fell about $2.9 million short of forecast

Summary

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