California revenue is on pace to exceed state estimates by about $4 billion, and health and welfare programs could receive some of the extra money, according to a Legislative Analyst's Office reportreleased Friday, the Sacramento Bee's "Capitol Alert" reports.
Details of Surplus
The LAO report found that California is on pace by June 30 to exceed revenue estimates in Gov. Jerry Brown's (D) fiscal year 2015-2016 budget proposal by about $4 billion, in large part because of increases in income tax revenue.
According to the report, California:
- Received $1.3 billion more in income tax than projected by the end of March; and
- Is expected to surpass estimates for April income tax revenue by $1.3 billion to $1.7 billion.
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