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JFAC analyst reports 2.5% year‑over‑year increase in maintenance budget; tax bills could lower future revenue
Summary
Legislative analysts updated the Joint Finance-Appropriations Committee on the General Fund outlook, reporting a 2.5% increase in maintenance appropriations for FY2025 and flagging several pending tax bills — notably an income tax cut — that would reduce future revenue projections.
The Joint Finance-Appropriations Committee received an update on the General Fund “green sheet” that showed current maintenance appropriations are about 2.5% higher than the previous year and that pending tax legislation could reduce future revenue.
Keith Phibbe, Division Manager of Budget Policy Analysis, told the committee that the Legislature has adopted a FY2025 revenue projection of $5,990,000,000 and that the committee is “currently carrying over a…
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