![]() ![]() 14 letter to state legislative leaders said state tax revenues failed to meet the other fiscal requirement by nearly $435 million. But State Budget Director John Hicks in an Aug. In the most recent fiscal year, the state’s “rainy day” fund had easily surpassed 10% of total general fund revenues. ![]() Those fiscal triggers were met for fiscal year 2021-2022, and Republican lawmakers earlier this year approved another cut of the income tax rate from 4.5% to 4%.
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