Iowa General Fund receipts fall $453 million year-to-date; REC trims 2026 forecast
A nonpartisan fiscal analyst reported that through April 1 Iowa General Fund net receipts fell $453 million (7.7%), with sales tax up but individual, corporate and franchise taxes down; the Revenue Estimating Conference cut its FY2026 forecast, projecting an $831 million decline for the year.
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Eric Richardson, senior fiscal analyst at the nonpartisan Iowa Legislative Services Agency, said through April 1 on a fiscal-year basis net General Fund receipts decreased $453 million, or 7.7 percent, compared with the prior year. "Through April 1st on a fiscal year basis, net receipts decreased $453 million and 7.7%," Richardson said in the March 2026 monthly video revenue memo.
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