Arkansas ends fiscal year with record $1.6 billion budget surplus

Gov. Asa Hutchinson on Tuesday said he planned to call lawmakers back into session to take up...
Gov. Asa Hutchinson on Tuesday said he planned to call lawmakers back into session to take up tax relief plans because of the surplus.(Source: KFVS)
Published: Jul. 5, 2022 at 3:58 PM CDT
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LITTLE ROCK, Ark. (AP) — Arkansas has ended its fiscal year with a record $1.6 billion budget surplus.

Gov. Asa Hutchinson on Tuesday said he planned to call lawmakers back into session to take up tax relief plans because of the surplus. The Republican governor said he hopes to later this week release dates for the special session.

The Arkansas Department of Finance and Administration said the state’s net available revenue for the fiscal year that ended June 30 totaled $7.4 billion.

The last record for the state’s surplus was last year, when the state reported a $945.7 million surplus.

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