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March 1, 2017TOPEKA, Kan. | By: AP
Kansas is preparing to report on whether its tax collections exceeded expectations again in February. The state Department of Revenue planned to issue its monthly report Wednesday afternoon. Tax collections have been greater than anticipated for each of the past three months. They were nearly $32 million ahead of expectations through January for a surplus of almost 1 percent.
However, collections are being compared against a revised and more pessimistic fiscal forecast issued in November. The state still faces a projected shortfall of about $320 million in its current budget and gaps in funding for existing programs totaling nearly $1.1 billion through June 2019.
Lawmakers last month approved a bill increasing personal income taxes to raise more than $1 billion through June 2019, but Gov. Brownback vetoed it.