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Revenue commissioner reports $1.3 billion refunded under franchise‑tax law change; remaining refund pool and FY26 requests explained
Summary
Department of Revenue Commissioner David Gergano told the Senate committee the department has refunded just under $1.3 billion of an estimated $1.55 billion franchise‑tax change, described remaining buckets of funds, and outlined FY26 cost and contract increases the department requests to support operations.
Department of Revenue officials told the Senate Finance, Ways and Means Committee on Feb. 18 that they have refunded just under $1.3 billion under last year’s franchise‑tax change and described the remaining money the department is holding as it completes claims processing. Commissioner David Gergano also summarized the department’s FY26 cost requests, including maintenance for core tax systems and higher license‑plate production costs.
Gergano said the original estimated refund universe was about $1.55 billion and about 120,000 taxpayers were identified as potentially eligible. “As of today, we've refunded just under $1,300,000,000,” he told the committee, and then described three buckets for the remainder: (1) roughly $11 million reserved for businesses in…
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