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Iowa general fund receipts down about $485 million through March 3, analyst says
Summary
Eric Richardson of the Legislative Services Agency reported that Iowa General Fund receipts through March 3 fell roughly $485 million (about 9%) year to date, driven by declines in personal and corporate income taxes; the next Revenue Estimating Conference is scheduled for March 12.
Eric Richardson, Senior Fiscal Analyst at the Legislative Services Agency, said the Iowa General Fund's year-to-date receipts through March 3 show a decrease of $485,000,000, or roughly 9 percent.
The drop reflects sharp declines in major revenue sources: individual income tax receipts are down 14 percent and corporate income tax receipts are down 37.1 percent, while sales and use tax receipts rose 6.2 percent. Richardson also reported that regular income tax refunds have fallen by $156,000,000 (36.6 percent), in part because fewer pass-through entity tax (PTET) credits have materialized into refunds so far in FY2026.
"Receipts through March 3 reflect a decrease of…
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