12:00 am
May 4, 2011
Yesterday Gov. Gregoire announced the results of the state’s tax amnesty program. Much better than expected. (Sorry, I don’t have a link to her comments, which don’t seem to be on the governor’s website yet.) Here’s some of what she said.
Our original estimate was that in the three month amnesty period we would be able to collect $24 million to help both our businesses as well as our general fund. That estimate increased to $61 million in the March revenue forecast. Add to that a projected $20 million from enhanced audit work for a total of $81 million.
The collection period wrapped up yesterday and Suzan reported to me this morning that the tax amnesty program brought in $321 million. That is made up of $263 million for the state general fund and $57 million in local taxes that will assist local jurisdictions.
In all we received $182 million more than we had planned on.
Here’s the Revenue Department’s press release.
Stateline.org has more.
“I was pretty amazed. I didn’t know there were this many people out there that owed us money,” Representative Gary Alexander, a Republican, tells The Olympian. “That program proved to be much more successful than projected. … That is going to be very helpful to us.”
Jerry Cornfield has reactions on his blog for the Everett Herald.
Sen. Ed Murray, D-Seattle, noted, “It certainly puts us in a better situation than we were in when we came in this morning. But all of those policy issues are very difficult bills so we’re not done.”
Rep. Ross Hunter, D-Medina, pointed out, “This will solve some of the financial differences. We still have some policy differences that we have to work out. I see no reason why we should not finish by the end of the special session.”
In all, good news.
Categories: Budget , Categories.