State income tax revenues came in lower than projected last month, as tax receipts totaled $224 million less than what was anticipated. Kimberly Murnieks, Director of the Office of Budget and Management, has noted that significant earnings on investments are nearly 170% higher than the year-to-date estimate, and that the state will be ending fiscal year 2024 with a balanced budget. Meanwhile, the state legislature has two bills pending, House Bill 386 and Senate Bill 216, which propose to phase out the state income tax and repeal the commercial activity tax. 5/7/2024