Revenue Estimates

General Fund revenues are expected to be $101.190 billion in 2007-08 and $102.987 billion in 2008-09. This represents a decrease of $40 million in 2007-08 and an increase of $83 million in 2008-09 compared to the Governor's January Budget. These revenues include $11.7 billion in revenue solutions proposed to close the budget gap - $3.3 billion in 2007-08 from the sale of authorized Economic Recovery Bonds, $1.9 billion from a change in accrual accounting, $5.1 billion of lottery proceeds in 2008-09 from the proposed fund transfer from the Revenue Stabilization Fund to the General Fund, and $1.4 billion in other initiatives. In the absence of these revenue solutions, 2007-08 revenues would be $97.7 billion and 2008-09 revenues would be $94.8 billion. Thus, revenues would grow by 2.4 percent in 2007-08 and decline by 3.0 percent in 2008-09.

Figure REV-01 displays the forecast changes between Governor's Budget and May Revision.
CHAPTER HIGHLIGHTS for Revenue Estimates Back to Top

 Personal Income Tax
 Sales and Use Tax
 Corporation Tax
 Insurance Tax
 Other Revenues and Transfers
PRINTABLE BUDGET DOCUMENTS Back to Top
Revised Budget Summary - Revenue Estimates (pdf * - 155K) -
Provides the entire Revenue Estimates Chapter in pdf format.
ADDITIONAL INFORMATION Back to Top
Proposed Budget Summary - Revenue Estimates (January 2008)
Displays Proposed Budget Summary information for Revenue Estimates.