Idaho’s General Fund Growth Slowing-Still Good
BOISE, Idaho (AP) — Idaho’s budget-writing agency forecast that the state government’s general fund tax revenue will rise 2.1 percent to $2.8 billion in the current fiscal year as sales tax receipts and individual income tax collections make up for lower corporate income tax revenue.
Gov. C.L. “Butch” Otter released the projection on Wednesday afternoon on behalf of the Division of Financial Management, which helps write Idaho’s budget every year. If accurate, the figure would mean that Idaho’s general fund revenue growth is slowing. In fiscal year 2013 ended on June 30, for instance, revenue grew 6.3 percent to $2.75 billion.
Even so, Otter said in a statement that Idaho’s economy is rebounding — and working toward steady, sustained growth. The Division of Financial Management plans to update its revenue estimate again in January.