third of the increase is due to a stronger revenue outlook through the remainder of the biennium. Increased revenues in the current biennium also increase the projected kickers. The personal kicker now stands at an expected $987 million that will be returned to taxpayers in 2026. The corporate kicker now stands at an expected $883 million and will be retained in the General Fund and spent on education next biennium.
Looking ahead to the 2025-27 biennium, available resources are revised lower by $66 million compared to the previous forecast. Increases in corporate, estate, and interest earnings are not enough to fully offset the larger personal kicker being paid out. That said, when looking at the state budget and the combined resources of 2023-25 and 2025-27 the General Fund forecast is raised $610 million. Consumption-based tax collections for the corporate activity tax, the lottery, and recreational marijuana in the current 2023-25 biennium are lowered a combined
$27 million (-0.5%) compared to the prior forecast, and lowered a similar $34 million (-0.6%) in the upcoming 2025-27 biennium. For more information click HERE . n
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December 2024 | The Business Review
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