June revenues $20.1M over projections

Idaho’s state tax revenues for June came in $20.1 million higher than projections – 6.5 percent higher – a revenue bump that means Idaho closed out its fiscal year June 30 with a balanced budget and also automatically transferred $15.6 million to the Budget Stabilization Fund, the state’s main rainy-day savings account, and just under $11 million to the Strategic Initiatives Program for road and bridge maintenance and repair projects, under the second and final year of a “surplus eliminator” bill that state lawmakers passed in 2014. “Those rainy day savings and sustainable investments are preparing Idaho for continued job and income growth,” said Gov. Butch Otter. “They are smart, responsible, and will help make Idaho and our citizens even more competitive in a challenging world”/ Betsy Russell , Eye on Boise. More here.