Feb. 20, 2019: Board of Equalization approves $8.2B for FY 2020 appropriations (OMES)

The Board of Equalization, chaired by Governor J. Kevin Stitt, on Wednesday certified $8,249,071,274 in revenues for FY 2020 appropriations, which is $574.5 million, or 7.5 percent, more than was appropriated for FY 2019.This amount is $37.8 million, or 0.5 percent, less than the December estimate.

All major tax categories showed growth between the board’s December meeting and its February meeting except personal income tax, which fell $27.9 million, or 1.0 percent, and gross production taxes on natural gas, which decreased by $53.2 million, or 11.4 percent…

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