The Consensus Estimating Group met today to revise the November 15, 2024 State
General Fund (SGF) estimates for FY 2025 and FY 2026. The revisions include the estimated impact of all 2025 legislation signed into law thus far. The impact of any legislation affecting the SGF that becomes law after April 17, 2025, will be quantified in a separate legislative adjustments report. Consensus revenue estimates are based on current federal and state laws and their current interpretation. A more detailed memo will be available soon which contains the economic forecast for Kansas upon which the new estimates are based, as well as a discussion of the other factors influencing the individual source estimates.
The overall estimate for FY 2025 and FY 2026 was increased by a combined $377.5
million. The estimate for total taxes was increased by $195.1 million, and other revenues were increased by $182.4 million for the two years combined.
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