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Revenue report raises optimism
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ebruary revenue results, showing a 7 percent overall increase over February 2011. Even though February is the lowest revenue month of the year, re-establishing the trend of increasing revenues month over month is important after two months of negative or flat growth. Individual income tax collections were up a whopping 27.8 percent, and net sales tax collections were up 10 percent. 

Motor fuel taxes were up overall 14.2 percent, with excise taxes up only 0.9 percent, but fuel sales taxes, due to rising prices, were up 27.1 percent.

Corporate tax collections continued negative, showing a $47.2 million reduction. Tobacco taxes and alcoholic beverage numbers were skewed due to corrections being made, and real trend numbers will show up below in the year-to-date numbers.

 

Year to date numbers

So after eight months of the 2012 fiscal year, state revenues show an overall 4.7 percent increase, totaling $10.5 billion for that period, with a gain of $470.9 million. Individual income taxes show a 7 percent increase and sales taxes are up 5.6 percent YTD. Motor fuel taxes are up 7.8 percent overall for an increase of $47.9 million YTD, although the excise portion is negative at -5.3 percent.

Corporate income taxes continue to sink, down $117.5 million for the year or 37.9 percent. After correction, tobacco tax collections show an increase of 2.5 percent and alcoholic beverages an increase of 1.7 percent.

So, after the governor’s reduction in the 2012 revenue estimate, the state is on target to meet budget projections for the balance of this year.

 

A flurry of activity as Crossover Day comes and goes — Senate accepts House general budget to review

Below is a partial list of legislation passed by the Senate during the previous week, ending with the final day for Senate bills to pass this chamber and be considered by the House. From here on, the Senate will be considering House bills.   

 

Bills passed out of the Senate

For a more complete list see http://www.senate.ga.gov/spo/en-US/UpperChamberReport.aspx

SB 355

SB 288 –

SB 356 -

SB 386

SB 431

SB 312

SB 469

SB 350

SB 411

SB 459

SB 473

SB 493

 

If you would like additional information regarding a specific piece of legislation, you may access the Georgia General Assembly Web site at http://www.legis.ga.gov/.

I may be reached at

234 State Capitol, Atlanta, GA 30334

(404) 656-5038 (phone)

(404) 657-7094 (fax)

E-mail at Jack.Hill@senate.ga.gov

Or call toll-free at

1-800-367-3334 day or night

 Reidsville office: (912) 557-3811

 – Allows Georgia residents between ages 18-21 to be licensed to carry a weapon. Applicant must complete and pass a firearms course within three months of the license application. – Allows medal recipients who are on active duty or in the reserves to receive the Purple Heart license plate. - Allows the Public Service Commission to create a process where consumers can opt out of the installation of electric smart meters at no cost. – Creates the Georgia Sheriffs’ Cooperative Authority which will create a representative group to work on behalf of county sheriff’s offices for training, contracts, as well as a statewide public safety database. – Requires that firearms used in a crime be returned to innocent owners. - Places restrictions on mass picketing at private residences and requires annual authorization for union dues. – Applicants for food stamps would be required to engage in professional development activities such as advancing their education or taking self-development classes. This may include completing a GED, pursuing technical education, attending self-development classes, or adult literacy classes. It exempts seniors and others. – Makes the theft of medical identity of a person a felony. This includes obtaining medical care, prescription drugs, or financial gains without the person’s consent. This bill increases the number of superior court judges in both the Bell-Forsyth Circuit and Middle Circuit from two to three. - Permits advance practice nurses to order radiographic imaging tests.Allows pharmacists and nurses to administer an expanded list of vaccines to those over the age of 19 without a prescription. – Expands the definition of those who are required by law to report suspected child abuse. Further defines groups covered by the reporting requirement including "child service organization personnel, clergy and school personnel." Clergy members in some confidential situations, such as confessionals, are exempt along with attorneys with their clients. Any adult who witnesses child abuse or receives reliable information from a person who has witnessed child abuse must report this within 72 hours. This bill comes forward at least partially in response to the Penn State abuse case.