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Finance commissioner outlines FY27 revenue picture; $104.9M sent to education fund, estate‑tax surplus proposed for school construction
Summary
At a Jan. 28 Ways & Means hearing, Commissioner Adam Gresham said FY27 revenues total roughly $2.533 billion after an $8.5M emergency-board forecast change, and described one-time moves that will send about $104.9M to the Education Fund for property-tax relief and a proposal to redirect excess estate-tax receipts into a new school construction fund.
Adam Gresham, commissioner of finance and management, told the Ways & Means Committee on Jan. 28 that the administration’s FY27 revenue package relies on a top-line eBoard forecast of about $2.533 billion and several one-time moves to bolster the Education Fund.
"At the end of the day, though, I had $2,759,000,000 to deploy in the budget," Gresham said while walking the committee through revenue sources and adjustments. He noted the eBoard downgraded its January forecast by about $8.5 million but that the current top-line forecast remains roughly $130 million higher than last year’s $2.403 billion.
Gresham detailed how the state will assemble one-time resources for property-tax relief: the administration is unreserving a $30 million temporary reserve and carrying forward $74.9 million from the fiscal‑26 budget…
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