This afternoon the Economic and Revenue Forecast Council issued its monthly Economic and Revenue Update. Here are the key bullets on revenue from the summary:

• Major General Fund-State revenue collections for the June 11 – July 10, 2014 collection period were $26.5 million (2.0%) higher than the June forecast.
• Revenue Act collections were $19.5 million (2.0%) higher than forecasted and non-Revenue Act collections were $7.0 million (2.2%) higher than forecasted.

This is the first collections report since the ERFC’s June 17 meeting, at which it added $156.6 million to its forecast of 2013-15 general fund-state revenue and $238.3 million to its forecast of 2015-17 revenues.