Council Approves Slight Uptick to Delaware Revenue Forecast - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Council Approves Slight Uptick to Delaware Revenue Forecast

Posted: 09/18/2017 16:55:00 -04:00 Updated:

NEW CASTLE, Del. (Randall Chase, AP) - Delaware's official revenue forecast has grown slightly since lawmakers passed a $4.1 billion budget for this year in July.

The Delaware Economic and Financial Advisory Council on Monday boosted this year's revenue estimate by about $31 million compared to June's projections.

That number does not include more than $200 million in new fees and taxes that lawmakers built into this year's budget after the council's June estimate. It does include an $11 million uptick in projected personal income taxes and more money from limited partnerships and limited liability companies.

A $20 million decrease in estimated abandoned property refunds was offset by a $19 million increase in projected corporate income tax refunds.

Those factors also led the council to bump up its revenue estimate for next fiscal year by $63 million.

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