State Tax Receipts Exceed Forecast For Fiscal Year

(KFOR Lincoln July 15, 2023) The final state General Fund tax receipts for Fiscal Year 2022-2023 exceeded projections by $3 million, which will be transferred into the Cash Reserve Fund. In a news release to KFOR News, spokesperson Laura Stimple said the state’s revenue receipts for June 2023 exceeded projections by $55.7 million as reported by the Nebraska Department of Revenue.

Nebraska Governor Jim Pillen said “This is great news, as we continue the work of providing transformative tax relief to Nebraskans,” said Gov. Pillen. “We continue to work with state agencies to constrain spending. We worked with the Legislature to pass one of the most fiscally conservative budgets in state history – limiting growth to 2%. Those measures, combined with the increase in tax receipts, bodes well for the stability of our state’s economy.”