By KPR
Frankfort, KY – State Budget Director Mary Lassiter says Kentucky's General Fund receipts declined for the second straight year, the first time the state has seen a consecutive decline since the end of World War II. She says tax collections for the just-ended fiscal year hit their lowest point in five years.
General Fund receipts for the period were just over $8.2 billion, a 2.4% decline from the previous year. Lassiter says on the positive side, revenues steadily improved over the course of the fiscal year, with the final quarter growing by four-tenths of a percent. She says it's a hopeful sign that the economy has begun its turnaround.