Iowa's Monthly State Revenue and Estimated Net Yearly Revenue
Monthly State Revenue
Monthly tax collections for FY14, which started July 1, continue to be higher than previous years. September alone was almost $100 million more than September of FY10. There is a budget surplus. All rainy day accounts are fully funded. We continue to ask, “Why is it necessary to take so much money from Iowa workers and families?”
Estimated Net Yearly Revenue
The Revenue Estimating Conference met in early October, adding FY15 to their predictions, which continue a steep upward trend. FY14 projections reflect the impact of recent legislative actions. The prediction for FY15 is tax collections of $6.8 billion, a record high, and $1.4 billion above FY10 tax collections.
Source: Legislative Services Agency
“Monthly General Fund Revenue Memo,” and
Revenue Estimating Conference Report
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