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JFAC analyst: FY2025 revenue projection $5.99 billion; green sheet flags income tax cut and other bills that could reduce revenue
Summary
Division manager Keith Bybee told the Joint Finance-Appropriations Committee the Legislature adopted a $5.99 billion FY2025 revenue projection and currently carries a $463 million balance; House Bill 40's proposed income tax cut could reduce revenue by about $253 million in FY2026.
Keith Bybee, Division Manager of Budget Policy Analysis, told the Joint Finance-Appropriations Committee that the Legislature adopted a fiscal year 2025 revenue projection of $5.99 billion and that the Legislature is currently carrying a balance of $463 million from the previous year.
That balance, and several pending bills, shape the committee's work on the General Fund “green sheet,” a running document analysts use to track projected revenues, appropriations and legislative actions. "If there is not an asterisk off to the side of legislative action, that means that there is action remaining to be taken," Bybee said while reviewing the document.
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