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8/16/2019 Fy 17 Budget Agreement Summary
http://slidepdf.com/reader/full/fy-17-budget-agreement-summary 1/1
FY 17 APPROPRIATED STATE BUDGET AGREEMENT
SUMMARY
REVENUES: $6.9B
Certified: $5.85B
State transportation revenue capture: $303M
o $200M transportation bond; $73M ROADS Fund transfer; $30M State
Transportation Fund transfer
Cash Flow Reserve Fund reform: $132M
Economically at-risk well rebate reform: $111M
Eliminate personal income tax double-deduction: $87.3M
Agency revolving account reconciliation: $82.6 million
Constitutional Reserve Fund (Rainy Day Fund) budget stabilization: $144.4M
County transportation revenue capture: $50M (CIRB fund)
Increased tax auditing initiative: $49M
Unclaimed Property Fund: $35M
Railroad sale money: $26.6M
Earned Income Tax Credit nonrefundable: $25.9M
License plate reissue: $12.7M
Investment New Jobs Tax Credit reform: $12.7M
Shorten sales and use tax refund statute of limitations: $9.1M
Reconciliation of income taxes withheld: $4.4M
Court revenue updated estimate: $4M
Coal credit reform: $881,423
Railroad reconstruction credit reform: $122,570
Child care facilities credit reform: $115,744
FY 16 SUPPLEMENTAL APPROPRIATIONS: $133.8M
FY 16 supplemental appropriations are:
o $51M to State Department of Education
o $27.6M to Department of Corrections
o
$47.1M to schools for ad valorem reimbursement
o $8.1M for second year debt service on existing Capitol repair bond issue
FY 17 APPROPRIATIONS: $6.78B
$360.7, or 5%, less than FY 16 prior to midyear revenue failure
$67.8M, or 1%, less than FY 16 as adjusted by midyear revenue failure