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Minn. Logs $24M Less Than Predicted In April

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May 11, 2009 1:44 pm US/Central

Minn. Logs $24M Less Than Predicted In April

ST. PAUL (WCCO) ― Lagging income and sales taxes drove down Minnesota's revenue collections in April.

A revenue update from the Minnesota Management and Budget Department shows that monthly receipts were $24.3 million below earlier projections. It's the third month of depressed figures, meaning the state's collections are now $70.3 million below estimates made in February.

Individual income tax payments and sales taxes were the main reasons for the April shortage. It was blunted somewhat by stronger-than-anticipated corporate tax collections.

Monday's report only gives revenue figures and doesn't provide updates on state spending patterns.

Lawmakers are currently grappling with a projected deficit topping $4.6 billion.

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If lawmakers don't pass a balanced budget Governor Pawlenty is willing to sign this week, they risk being called back for a special session.

(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

© MMIX, CBS Broadcasting Inc. All Rights Reserved.