Tax revenue misses projections again

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Indiana’s new tax collections report shows state revenue was short of projections for the seventh time in the past nine months.

The report released April 8 by the State Budget Agency comes as the General Assembly faces a deadline in three weeks to finish work on a new two-year state spending plan.

The budget agency says tax collections were 1.7 percent below expectations for March, with much of that coming from a 6-percent shortfall in sales tax collections for the month.

March’s figures leave state revenue at $109 million, or 1.1 percent, below projections for the budget year that started in July. The state ended the last budget year with some $2 billion in reserves.

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