Idaho tax revenues continue to fall short, creating 'unusual' challenge for lawmakers
BOISE, IDAHO -- Idaho is on track to have roughly $63 million less in tax revenue than budget forecasters predicted, with general fund revenue collections for the month of November coming in nearly $16 million lower than expected.
A report from the Legislative Services Office released Monday says that when the 2019 Legislature convenes next month, lawmakers on the budget-setting committee could see an estimated ending balance of $43.7 million. That’s about $1.4 million less than the budget they set last March.
It’s an unusual situation that state officials hope will come down to a matter of timing rather than an actual shortfall — the state’s fiscal year runs from July 1 to June 30, and individual income tax receipts often get a bump on tax day in April.
Still, lawmakers will have to come up with a budget long before April 15.
Read more: https://www.idahostatesman.com/news/politics-government/state-politics/article222931395.html
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