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JFAC analyst reports FY2025 revenue projection, maintenance budget and bills that could affect state revenue
Summary
Legislative analyst reported a FY2025 revenue projection of $5.99 billion, a maintenance budget of roughly $5.404 billion (about 2.5% increase year over year), and highlighted tax bills — including House Bill 40 (an income tax cut projected to reduce FY2026 revenue by $253 million) — that could affect the committee's work.
Keith Phibbe, Division Manager of Budget Policy Analysis with Legislative Services, presented the committee’s green-sheet General Fund update and highlighted key fiscal figures and legislation that could affect the revenue target.
Phibbe said the committee had adopted a FY2025 revenue projection of $5,990,000,000, citing the Economic Outlook Committee and Revenue Assessment recommendation. He noted the…
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