Revenues from Measure 66 have turned out to be about one-third less than what lawmakers predicted.
Revenues from Measure 66 have turned out to be about one-third less than what lawmakers predicted.
Money from the controversial tax measure has come up $50 million short for 2010.
The increase, which voters upheld Jan. 26 as Measure 66, was projected to raise $180 million in the first year. But according to a report presented to lawmakers Wednesday, preliminary collections put that amount at $130 million — 72 percent of the original estimate.
The new report by the Legislative Revenue Office, based on data from 2009 state tax returns, projects that collections from the higher personal income taxes will be about two-thirds of the original 2009 estimate of $504 million for the current two-year budget cycle. The cycle ends June 30.
Read more at the Statesman Journal.
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