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Iowa general fund receipts down $310 million through Jan. 2; Revenue Estimating Conference slightly raises forecasts
Summary
The Iowa Legislative Services Agency reported net general fund receipts fell $310 million (‑7.9%) through Jan. 2. At its Dec. 11 meeting, the Revenue Estimating Conference raised net revenue projections by $23 million for FY2026 and $105 million for FY2027.
Eric Richardson, senior fiscal analyst at the nonpartisan Iowa Legislative Services Agency, said Thursday that net general fund receipts for fiscal year 2026 were down $310,000,000 (‑7.9%) through Jan. 2 compared with the prior year. “Through January 2 and on a fiscal year basis, net receipts decreased $310,000,000 and minus 7.9%,” Richardson said.
The decline largely reflects recent tax changes that took effect Jan. 1, 2025, Richardson said. He reported individual income tax receipts fell 15.2%, which he attributed primarily to the reduction in Iowa’s…
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