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Fri January 10, 2014
KY General Fund revenue down 3.5 percent in Dec.
Kentucky officials report a 3.5 percent drop in tax collections for December, but say state revenue is up slightly for the first six months of the fiscal year. State Budget Director Jane Driskell says December’s General Fund revenue totaled almost $913 million, a drop of over $33 million for the same month in 2012. Driskell says 2012 collections included a $25 million windfall due to a taxpayer amnesty.
Driskell says revenues need to grow 3.1 percent for the last six months of this fiscal year to meet the state’s official revenue forecast.