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JFAC adopts FY2025 general fund revenue forecast of $5.99 billion
Summary
The Joint Finance-Appropriations Committee voted unanimously to use the Economic Outlook and Revenue Assessment Committee's FY2025 general fund revenue projection of $5,990,000,000 to set agency budgets.
The Joint Finance-Appropriations Committee voted unanimously to adopt the Economic Outlook and Revenue Assessment Committee's recommended general fund revenue projection of $5,990,000,000 for fiscal year 2025.
Senator Woodward moved the motion to adopt the Economic Outlook and Revenue Assessment Committee (EORAC) projection; Co-Chair Horman seconded. Committee staff had presented the EORAC recommendation earlier in the morning. In opening remarks, Senator Woodward told the committee the change reflected updated revenue information.
The committee followed its agreed voting procedure requiring a majority from both the Senate and the House to move proposals to the floors. Miss Figueredo called the roll separately for the Senate and House. When votes were tallied, the clerk reported "for the senate, 10 ayes, 0 nays; for the house, 10 ayes, 0 nays; for a grand total of 20 ayes, 0 nays." Chairman Groh declared the motion passed.
The adopted projection will be used to set state agency budgets for the remainder of fiscal year 2025, replacing the governor's lower recommendation for that year. Committee staff indicated the committee would proceed with other statewide decisions under the new revenue base.
