Revenue Estimates
Other Revenues and Transfers

With the recent withdrawal of the state's sale advisor for the EdFund transaction, tightening of the Wall Street credit market, as well as potential changes in the student lending industry, the sale of the EdFund is being postponed. It is anticipated that a sale will be pursued and completed in 2009-10. This reduces 2007-08 revenues by $500 million.

The state's lottery is an underperforming asset because of numerous restraints on its operation. The May Revision proposes to place a measure on the November 2008 ballot to modernize the state's lottery, providing operational flexibility similar to lotteries in most other states. With this modernization in place, it is anticipated that bonds can be issued against increased lottery revenues to capitalize the Revenue Stabilization Fund (RSF) proposed to be created as a part of the Governor's Budget Reform proposal. When capitalized, the RSF would be available to provide $5.122 billion in revenue for the state budget in 2008-09.

To provide for a prudent reserve, the May Revision proposes a total of $75 million of transfers and $574 million of loans from various special funds.
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CHAPTER HIGHLIGHTS for Revenue Estimates Back to Top

 Personal Income Tax
 Sales and Use Tax
 Corporation Tax
 Insurance Tax
image of black pointing arrowOther Revenues and Transfers
PRINTABLE BUDGET DOCUMENTS Back to Top
Revised Budget Summary - Revenue Estimates (pdf * - 155K) -
Provides the entire Revenue Estimates Chapter in pdf format.
ADDITIONAL INFORMATION Back to Top
Proposed Budget Summary - Revenue Estimates (January 2008)
Displays Proposed Budget Summary information for Revenue Estimates.