Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Iowa general fund revenue down $629 million in FY2025; PTET drop is largest factor
Summary
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.
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.
"Net general fund revenue decreased 7.1 percent and $629,000,000 when compared to the same period of fiscal year 2024," Richardson said in the agency's June monthly video memo.
Richardson broke the change down by tax type: individual income tax receipts rose about 1% and sales and use tax receipts rose about 1.5% for the period, while corporate income tax receipts fell about…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
