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JFAC analyst: FY2025 revenue projection $5.99 billion; tax bills could cut future revenue
Summary
Legislative fiscal staff told the Joint Finance-Appropriations Committee the adopted FY2025 revenue forecast is $5.99 billion and highlighted active tax-cut bills and judicial salary and judgeship proposals that could affect the committee's revenue target and long-term budget outlook.
The Joint Finance-Appropriations Committee received its regular “green sheet” update on projected general fund balances and pending bills that could change the state's revenue outlook.
Keith Phibbe, Division Manager of Budget Policy Analysis, said the Legislature has adopted a revenue projection for fiscal year 2025 of $5,990,000,000 and is currently carrying a balance of $463,000,000. "Every member should have a copy of this nice green piece of paper, otherwise known as the green sheet," Phibbe told…
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