Tenn. Revenue Collections Continue to Improve
NASHVILLE, Tenn. (AP) — Tennessee revenue collections are continuing to show signs of improvement, with April figures exceeding expectations.
Finance Commissioner Larry Martin says that overall revenues were $75 million more than the state budgeted for April, which reflects economic activity in the previous month.
The state's general fund exceeded expectations by nearly $70 million.
Corporate franchise and excise taxes and sales taxes were about $5 million more than expected.
The state has struggled with poor revenue collections, which led the Republican-controlled Legislature to cancel planned raises for teachers and state employees in the state's $32.4 billion annual budget plan passed last month.