OFFICE OF POLICY AND MANAGEMENT OFFICE OF FISCAL ANALYSIS
Benjamin Barnes, Secretary "3 73/ Neil Ayers, Skeeter
450 Capitol Avenue Legislative Office Building Room 5280
Hartford, CT 06136?4591 Hartford, CT osroeuism
PHONE: {860) tits-650G PHONE: (880) 249?0200
FAX: (850} 418-848? FAX: (860) 24043052

 

?January 16, 2018

Governor Dannel P. Malloy

Lieutenant Governor Nancy S. Wyman
Senator Martin M. Looney
Representative Joe Aresimowicz
Senator Leonard A. Fasano
Representative Themis Klarides
Senator John W. Fonfara

Senator L. Scott Frantz

Representative Jason Rojas

Ladies and Gentlemen:

Pursuant to Section 2-36C of the Connecticut General Statutes, the Of?ce of Policy and
Management and the Of?ce of Fiscal Analysis have met and have arrived at consensus
revenue estimates for the current FY 17-19 biennium and next three ensuing ?scal years
which are attached hereto.

If you have any questions, please feel free to contact us. 

 

 



c, 
Benj)amin Barnes /Neil Ayers
Secretary Director
Of?ce of Policy and Management Of?ce of Fiscal Analysis

cc: Comptroller Kevin Lembo

 

State of Connecticut
Consensus Revenue
January 16, 2018
(in millions)
General Fund
Taxes
Personal Income Tax
Withholding
Estimates and Finals
Sales & Use
Corporation
Public Service
Inheritance & Estate
Insurance Companies
Cigarettes
Real Estate Conveyance
Alcoholic Beverages
Admissions & Dues
Health Provider Tax
Miscellaneous
Total Taxes
Refund of Taxes
Earned Income Tax Credit
R&D Credit exchange
Total Taxes Less Refunds
Other Revenue
Transfers-Special Revenue
Indian Gaming Payments
Licenses, Permits, Fees
Sales of Commodities
Rents, Fines, Escheats
Investment Income
Miscellaneous
Refund of Payments
Total Other Revenue
Other Sources
Federal Grants
Transfer From Tobacco Fund
Transfers From/ (To) Other Funds
Transfers to BRF - Volatility Adjustment
Total Other Sources
Total General Fund Revenues

FY 2018

FY 2019

FY 2020

FY 2021

FY 2022

$

5,953.2 $ 6,059.0 $ 6,147.4 $ 6,274.5 $ 6,405.4
3,814.9
3,163.1
3,219.6
3,299.8
3,382.2
4,150.9
4,182.6
3,927.8
3,946.8
3,969.0
933.3
988.9
948.4
1,013.5
992.6
266.9
244.8
253.2
261.7
270.6
230.1
176.2
155.8
105.9
110.9
230.6
234.3
237.4
239.6
241.8
394.2
390.1
371.4
353.6
336.7
203.1
209.4
217.5
224.4
232.7
62.6
63.0
63.4
63.8
64.1
40.6
41.8
42.1
42.4
42.7
1,047.8
1,049.2
534.5
536.0
537.4
33.2
33.9
34.5
27.7
33.1
$ 17,355.9 $ 16,835.5 $ 16,151.7 $ 16,395.9 $ 16,620.6
(1,091.5)
(1,146.0)
(1,261.7)
(1,326.5)
(1,392.9)
(115.0)
(118.3)
(121.8)
(125.5)
(129.3)
(7.4)
(7.7)
(6.7)
(6.9)
(7.2)
$ 16,142.7 $ 15,564.3 $ 14,761.0 $ 14,936.5 $ 15,090.7

$

$

$

$

339.3 $
272.3
308.3
37.8
157.1
8.0
193.3
(57.5)
1,258.6 $

346.4 $
202.7
341.3
38.7
143.7
9.5
189.1
(58.8)
1,212.6 $

354.1 $
200.3
341.4
39.7
145.9
10.7
193.4
(60.0)
1,225.5 $

362.5 $
199.4
319.6
40.7
148.1
11.1
197.3
(61.3)
1,217.4 $

371.1
198.4
350.4
41.7
150.4
11.4
201.3
(62.5)
1,262.2

1,567.8 $
109.7
65.7
(664.9)
1,078.3 $

1,645.3 $
110.2
106.1
(13.1)
1,848.5 $

1,630.0 $
94.0
(130.8)
(69.6)
1,523.6 $

1,647.0 $
92.6
(130.8)
(149.8)
1,459.0 $

1,672.0
91.6
(130.8)
(232.2)
1,400.6

$ 18,479.6

$ 18,625.4

$ 17,510.1

$ 17,612.9

$ 17,753.5

 State of Connecticut
Consensus Revenue
January 16, 2018
(in millions)
Special Transportation Fund
Taxes
Motor Fuels Tax
Oil Companies Tax
Sales & Use Tax
Sales Tax - DMV
Refunds of Taxes
Total-Taxes Less Refunds

FY 2018
FY 2019
FY 2020
FY 2021
FY 2022
501.4 $
502.3 $
502.8 $
500.3 $
497.8
256.7
279.8
306.9
337.7
359.2
323.4
329.4
336.6
411.5
498.8
86.0
86.8
87.6
88.5
89.4
(13.9)
(14.6)
(15.3)
(16.1)
(16.9)
$ 1,153.6 $ 1,183.7 $ 1,218.6 $ 1,321.9 $ 1,428.3

$

Other Sources
Motor Vehicle Receipts
Licenses, Permits, Fees
Interest Income
Federal Grants
Transfers From/ (To) Other Funds
Refunds of Payments
Total Other Revenues

$

Total STF Revenues

$

$

247.2 $
141.5
9.5
12.1
(5.5)
(4.2)
400.6 $
1,554.2

$

249.0 $
142.8
10.4
12.1
(5.5)
(4.3)
404.5 $
1,588.2

$

250.7 $
143.6
11.2
12.1
(5.5)
(4.4)
407.7 $
1,626.3

$

252.6 $
144.2
12.1
11.8
(5.5)
(4.5)
410.7 $
1,732.6

$

254.4
144.7
13.0
11.0
(5.5)
(4.6)
413.0
1,841.3