The state of Illinois is set to see an additional $369 million in revenue this fiscal year, according to an adjustment in the Commission on Government Forecasting and Accountability's financial forecast. The commission is a budgeting analysis unit for the state.
The additional funds stem from some $200 million more in sales tax revenue, $72 million scheduled to come in from a court settlement, and an extra $97 million that was transferred to the General Revenue Fund after the state did not need to pay that money in income tax refunds. The increase in sales tax revenue comes from a boost in auto sales, according to the commission's revenue manager Jim Muschinske.
The additional funds boosts the state's general fund estimate to $35.8 billion from the previously expected $35.45 billion.
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