The Independent Fiscal Office and state Department of Revenue have released January
revenue reports. For the month of January, state General Fund collections totaled $2.7 billion and were $245.8 million lower than the IFO’s official estimates. The shortfall was largely the result of a temporary shift in personal income tax collections.
The Motor License Fund received $197.2 million in January, $10.5 million below estimate. The Motor License Fund includes liquid fuels taxes and other license, fine, and fee revenues. Motor License collections for the fiscal year-to-date total $1.6 billion, 1% below estimate.