Iowa general fund revenue down $629 million in FY2025; PTET drop is largest factor
State net general fund revenue fell 7.1% (about $629 million) through June 30, 2025, the Legislative Services Agency reported, with a 77.8% drop in pass-through entity tax receipts accounting for the largest single decline; final totals remain subject to year-end accruals and refunds.
The full story
Eric Richardson, Senior Fiscal Analyst at the nonpartisan Iowa Legislative Services Agency, said Iowa's net general fund revenue decreased 7.1% — a decline of $629,000,000 — for fiscal year 2025 through June 30, 2025.
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