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Initial Revenue Estimate Announcement

The IFO will release its Initial Revenue Estimate on Wednesday, May 24th at 1:30 PM. The report will contain revisions to the FY 2022-23 estimate and an initial estimate for FY 2023-24. See the announcement for a link to register for the presentation.

Tags: estimates, initial, revenue

Initial Revenue Estimate Announcement

The IFO will release its Initial Revenue Estimate on Monday, May 23rd at 1:30 PM. The report will contain revisions to the FY 2021-22 estimate and an initial estimate for FY 2022-23. See the announcement for a link to register for the presentation.

Tags: estimates, initial, revenue

Initial Revenue Estimate Announcement

The IFO will release its Initial Revenue Estimate on Wednesday, May 26th at 1:00PM. The report will contain revisions to the FY 2020-21 estimate and an initial estimate for FY 2021-22. See the announcement for a link to register for the presentation.

Tags: estimates, initial, revenue

initial Revenue Estimate FY 2024-25

The IFO released its initial revenue estimate for FY 2024-25. Click the hyperlink above to view the report and presentation. 

05/20/2024

initial Revenue Estimate Announcement

The IFO will release its initial Revenue Estimate on Monday, May 20th at 1:30 PM. The report will contain revisions to the FY 2023-24 estimate and an initial estimate for FY 2024-25. See the announcement for a link to register for the presentation.

05/13/2024

initial Revenue Estimate FY 2023-24

The IFO released its initial revenue estimate for FY 2023-24. Click the hyperlink above to view the report and presentation.

05/24/2023

initial Revenue Estimate Announcement

The IFO will release its initial Revenue Estimate on Wednesday, May 24th at 1:30 PM. The report will contain revisions to the FY 2022-23 estimate and an initial estimate for FY 2023-24. See the announcement for a link to register for the presentation.

05/17/2023

initial Revenue Estimate FY 2022-23

The IFO released its initial revenue estimate for FY 2022-23. Click the hyperlink above to view the report and presentation.

05/23/2022

initial Revenue Estimate Announcement

The IFO will release its initial Revenue Estimate on Monday, May 23rd at 1:30 PM. The report will contain revisions to the FY 2021-22 estimate and an initial estimate for FY 2022-23. See the announcement for a link to register for the presentation.

05/16/2022

initial Revenue Estimate FY 2021-22

The Independent Fiscal Office (IFO) released its initial revenue estimate for FY 2021-22. Click the hyperlink above to view the report and presentation.

05/26/2021

initial Revenue Estimate Announcement

The IFO will release its initial Revenue Estimate on Wednesday, May 26th at 1:00PM. The report will contain revisions to the FY 2020-21 estimate and an initial estimate for FY 2021-22. See the announcement for a link to register for the presentation.

05/19/2021

initial Revenue Estimate FY 2020-21

The initial revenue estimate for FY 2020-21 and updated estimates for FY 2019-20 are included. 

05/26/2020

initial Revenue Estimate FY 2020-21 Presentation

Director Matthew Knittel made a presentation on the initial revenue estimate for FY 2020-21 and updated estimates for FY 2019-20.

05/26/2020

IFO Public Briefing: initial Revenue Estimate FY 2020-21

The Independent Fiscal Office will release an updated revenue estimate for FY 2019-20 and an initial revenue estimate for FY 2020-21. The briefing is open to the public and submitted questions will be addressed at the end of the presentation. The report will also be posted to the IFO website when the presentation concludes. Click on the link for details on how to register.  

05/19/2020

initial Revenue Estimate FY 2019-20

The initial revenue estimate for FY 2019-20 and updated estimates for FY 2018-19 are included. For the PowerPoint presentation, click on the hyperlink above.  

05/20/2019

initial Revenue Estimate FY 2019-20 Presentation

Director Matthew Knittel made a presentation on the initial revenue estimate for FY 2019-20 and updated estimates for FY 2018-19.

05/20/2019

initial Revenue Estimate FY 2018-19

The initial revenue estimate for FY 2018-19 and updated estimates for FY 2017-18. Press Release Presentation

05/01/2018

initial Revenue Estimate FY 2017-18

The initial revenue estimate for FY 2017-18 and updated estimates for FY 2016-17. Press Release Presentation

05/02/2017

2013_special_report_funding_and_reforming_public_employee_retirement_systems.pdf

Pursuant to that mandate and the pension funding issues brought about by the recent recession and weak recovery, the Commission initiated a study of the current funding crisis, the actions available to manage that problem, and the reforms that may be to study on a continuing basis the Commonwealth’s public employee retirement systems. In accordance with that responsibility, the Commission initiated a study of the current funding crisis, its causes, and the potential reforms available under the strictures of judicial rulings

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PBB_2022_DLI_REPORT.pdf

52% 52% 44% 52% 53% HGAC employment rate 2 84% 82% 79% 72% 58% 51% Workers' Compensation Administration 1 Uninsured initial claims submitted 421 384 272 260 221 185 Incident rate per 1,000 workers 27 29 29 28 30 -- Workplace small augmentation and other special fund expenditures. Activity 1: Unemployment Compensation Benefits | Page 10 Notes on Measures ▪ Workload measures for initial claims, weeks paid and funds paid include data for regular state UC, Pandemic Emergency Unemployment Compensation (PEUC), Extended Benefits (EB

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Initial-Revenue-Estimate-2018-05.pdf

May 1, 2018 The Honorable Members of the Pennsylvania General Assembly: The Independent Fiscal Office hereby submits its initial revenue estimate in accordance with Sections 604-B (a)(1) and 605-B (a) of the Administrative Code of 1929. This report 3 The SUT non-motor growth rate excludes recent tax law changes and transfers to ERCA. AAGR 1 Initial Revenue Estimate | Page 7 Initial Revenue Estimate This section provides revised revenue estimates for FY 2017-18 and initial estimates for FY

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Revenue_Estimate_2021_05.pdf

FISCAL OFFICE May 26, 2021 The Honorable Members of the Pennsylvania General Assembly: The Independent Fiscal Office hereby submits its initial revenue estimate in accordance with Sections 604- B (a)(1) and 605-B (a) of the Administrative Code of 1929 includes closed-end home equity loans. Year-Over-Year Growth Rates Economic Outlook | Page 12 - This page intentionally left blank. - Initial Revenue Estimate | Page 13 Initial Revenue Estimate This section provides revised revenue estimates for FY 2020-21 and initial estimates

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Revenue-Estimate-2023-05.pdf

INDEPENDENT FISCAL OFFICE May 24, 2023 The Honorable Members of the Pennsylvania General Assembly: The Independent Fiscal Office submits this initial revenue estimate in accordance with Sections 604-B (a)(1) and 605-B (a) of the Administrative Code of 1929 This page intentionally left blank. - Economic Outlook | Page 1 Economic Outlook This section presents the economic forecast used for the initial revenue estimate. The forecast does not assume a recession occurs in calendar year (CY) 2023 or 2024. However, many analysts

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Revenue_Estimate_2022_05.pdf

INDEPENDENT FISCAL OFFICE May 23, 2022 The Honorable Members of the Pennsylvania General Assembly: The Independent Fiscal Office submits this initial revenue estimate in accordance with Sections 604-B (a)(1) and 605-B (a) of the Administrative Code of 1929 Trends Year-Over-Year Growth Rate PA Per Capita Consumer Debt Economic Outlook | Page 12 - This page intentionally left blank. - Initial Revenue Estimate | Page 13 Initial Revenue Estimate This section provides revised revenue estimates for FY 2021-22 and initial estimates

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Revenue-Estimate-2020-05.pdf

May 26, 2020 The Honorable Members of the Pennsylvania General Assembly: The Independent Fiscal Office hereby submits its initial revenue estimate in accordance with Sections 604- B (a)(1) and 605-B (a) of the Administrative Code of 1929. This report percent lower in CY 2021 compared to CY 2019. Economic Outlook | Page 14 - This page intentionally left blank. - Initial Revenue Estimate | Page 15 Initial Revenue Estimate This section provides revised revenue estimates for FY 2019-20 and initial estimates for FY

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Revenue-Estimate-2019-05.pdf

May 20, 2019 The Honorable Members of the Pennsylvania General Assembly: The Independent Fiscal Office hereby submits its initial revenue estimate in accordance with Sections 604- B (a)(1) and 605-B (a) of the Administrative Code of 1929. This report Sales and use excludes revenues from internet base expansion. Economic Outlook | Page 8 - This page intentionally left blank. - Initial Revenue Estimate | Page 9 Initial Revenue Estimate This section provides revised revenue estimates for FY 2018-19 and initial estimates for FY

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index.cfm

the collective bargaining agreement between the Commonwealth of Pennsylvania and the Fraternal Order of Police (FOP), Lodge #92. ... (Full Report) Initial Revenue Estimate FY 2024-25 Revenue Estimates May 20, 2024 The IFO released its initial revenue estimate for FY 2024-25. Click the hyperlink above to view the report and presentation. ... (Full Report) Initial Revenue

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2024_Initial_Revenue_Estimate_Presentation_Final.pdf

Matthew Knittel, Director Initial Revenue Estimate Fiscal Year 2024-25 May 20, 2024 Today’s Presentation Presentation runs ~20 minutes • Posted to IFO website attempt to address them at end If connection is lost, we will re-establish as soon as possible Slide 2 Initial Revenue Estimate Economic and Revenue performance as expected, unusual revenue sources provide gains PA Economic Forecast Slide 3 Initial Revenue

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2007_divestment_complete_report.pdf

adopted non-binding resolutions, but have not mandated Sudan divestment. It should be noted that both PSERS and SERS have initiated efforts to engage companies in which the retirement systems have investments that have been identified by SDTF as “highest offenders divested or engaged with companies that have business operations in Sudan. Each retirement system would be required to issue an initial report to the Pennsylvania General Assembly and the Auditor General containing the list of scrutinized companies, and to make the

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2000_cost_of_living_adjustments.pdf

payments to reduce the amount of unfunded debt incurred with each future COLA. Implement a limited pre-funding mechanism by initiating a percent- age of payroll COLA contribution rate (approx. 0.3%) as an ongoing component of the employer contribution rates portion of the total cost of an - 3 - automatic postretirement adjustment is attributable to service prior to the date of initial implementation, while the other portion of the cost is attributable to the future service of active employees. Although the prior

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Revenue-Estimate-2024-05.pdf

INDEPENDENT FISCAL OFFICE May 20, 2024 The Honorable Members of the Pennsylvania General Assembly: The Independent Fiscal Office submits this initial revenue estimate in accordance with Sections 604-B (a)(1) and 605-B (a) of the Administrative Code of 1929 loans. 2024.2 data are estimates. Source: Federal Reserve Board of New York and Federal Reserve Board. YOY Growth Rate Initial Revenue Estimate | Page 5 Initial Revenue Estimate This section provides revised revenue estimates for FY 2023-24 and initial estimates

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PBB_2020_DHS_REPORT_Final_Updated.pdf

care payments should continue to decline (i.e., reimbursements to providers for services that the patient cannot pay). Initiation rates for substance use disorder (SUD) treatment are average, but engagement is strong amongst those that initiate treatment. In Pennsylvania, approximately 41 percent of MA pa- tients newly diagnosed with a SUD initiated treatment within 14 days, nearly the

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ACN_SB1_A01354_A01558_2017_06_03a.pdf

that allows a member’s contribution rate to be reduced up to 3.0 percentage points below the member’s initial rate, under the same condi- tions that the employee contribution rate can increase (except in reverse directions). Other Plan Design and a slight decrease in employer contributions for SERS. The short-term increase for PSERS is due to the higher initial costs of the new retirement plans (see page 6 of the Milli- man note). For SERS, the initial costs of

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TC_2023_Rural_Jobs_Investment.pdf

more effective as a loan program administered by DCED. ▪ Additional funds should not be allocated until the impact of the initial $30 million in tax credits can be fully assessed. General Findings and Recommendations | Page 2 - This page intentionally left blank documentation of rural growth investments and include the following: ▪ A bank statement that itemizes each rural growth investment. ▪ A completed Initial Report for each rural growth investment. The report must include the name, location, size, and industry of each rural business

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PBB_2020_DOS_REPORT.pdf

of the Commonwealth, the Pennsylvania Department of State pro- motes the integrity of the electoral process, provides the initial infrastructure for economic development through corporate organizations and transactions, and protects the health and safety of the public. The Department encourages the center wait time by dedicating additional resources to customer care. This activity is primarily funded by fees for initial application for licensure or through active licensure re- newals. No state tax dollars are used to support this activity. Resources 14-15

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PBB_2022_DHS_REPORT_ADDENDUM.pdf

blank. - Community HealthChoices | Page 17 Activity 1: Community HealthChoices (Addendum) The following data shall serve as an addendum to the initial Performance-Based Budget report for DHS delivered to the General Assembly on January 19, 2022. This addendum was requested by PBB) Board during a hearing on January 26, 2022. The following data are to be used in conjunction with the initial report, and not serve as a replacement for the original measures provided. The PBB Board requested existing data related to

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PBB_2021_PSP_REPORT_ADDENDUM.pdf

18 Activity 2: Criminal Law Enforcement and Crime Prevention (Addendum) The following data shall serve as an addendum to the initial Performance-Based Budget report for the Pennsylvania State Police delivered to the General Assembly on March 25, 2021. This addendum Budget Board during a hearing on April 28, 2021. The following data are to be used in conjunction with the initial report, and not serve as a replacement for the original measures provided. Troop Patrol Troopers Patrol Corporals Crime Troopers Crime

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PBB_2021_DHS_REPORT_ADDENDUM.pdf

is the percentage of inpatient acute care discharges with subsequent readmission to inpatient acute care within 30 days of the initial discharge. A lower percentage is better. Goal is 8.5% or less. MA – Physical Health Services | Page 11 Notes on Welfare (Addendum) | Page 21 Activity 2: County Child Welfare (Addendum) The following data shall serve as an addendum to the initial Performance-Based Budget report for the Department of Human Services Part 2 delivered to the General Assembly on March 25

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PBB_2019_JCJC_Report.pdf

be tracked over time. Counties could then retain a portion of the savings, while also paying back the initial state funding into a special fund (that could be named the Juvenile Justice Investment Fund) from the remainder of the savings. Once the initial state funding is paid back, those monies could be reinvested to fund innovations in other counties. Pilot projects conducted at the county

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Single-Use Plastics Report-2020_06.pdf

within the state. Regulations vary between all five counties that make up the de facto statewide ban. The initial mil requirement in 2012 was 2.25; the law was updated with a 10 mil requirement as of 2020. 1 Jurisdiction has Therefore, this report also uses data from large cities that have enacted regulations over the past decade. Chicago initially banned LWPBs less than 2.25 mils thick in 2015. In response to the ban, large retail chains within Chicago switched to

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Public Employee Retirement Laws of PA Local Governments (2009).pdf

by the member. Retirement system benefits are forfeited upon entry of a plea of guilty or no defense or upon initial conviction. Payments or partial payments are prohibited while an appeal is pending. In cases where a verdict of not guilty Valuation Reports. The act provides for the submission of standardized reports on all municipal pension plans every two years. The initial reports under the act were for the plan year beginning in 1985. The reports must be filed with the Public

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PBB_2019_PCCD_Report.pdf

assistance from the Council of State Governments (CSG) Justice Center and the Pew Center on the States. The initial set of JRI reforms produced material population reductions and savings through policy changes in corrections and parole at the back end of and to increase the safety of our communities. Services Provided The Pennsylvania Commission on Crime and Delinquency (PCCD) initiates, validates, and financially sup- ports justice-related programs. The Commission focuses on research, policy, planning, training, evidence- based programming, technology, outreach and

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2006_surviving_spouse_healthcare_study.pdf

Payment Request Form within the time frames established in the REHP Administrative Agreement. 12. Forwards payment voucher to Treasury to initiate the trans- fer of funds to the PEBTF. 13. Transmits monthly payment to PEBTF for agencies under IPPS and for PEBTF - Retrieves the retiree death information file from SERS. - cancels retiree contract - notifies insurance co. (initiating non-group bill for dependents) - send COBRA notices to listed dependents - send survivor-spouse ACT 183 conversion letter/election form 5. Survivor-spouse receives election

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Summary_Tax_Credit_Reviews_Oct_2023.pdf

states or jurisdictions. In January 2023, the PBB Board approved the last of the tax credit reviews required during the initial five- year evaluation period. This report summarizes highlights from all 20 of the initial reports. Please note: ▪ The information contained in each summary was accurate as of the date the original report was issued

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Revenue-Proposal-Analysis-2018-04.pdf

The proposed tax would be effective July 1, 2018 with the first payment due June 15, 2019. The initial year would cover production from the effective date through April 2019. After the initial year, the tax would be paid annually on June 15 th , and would cover production from May of the previous calendar year

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ACN_SB1071_A10803_text.pdf

date in a form and manner required by IRC § 401(a)(9) and other applicable provisions of IRC. * * * (g.1) Initial payment to a participant.--The board shall make the initial payment to a participant who has applied for a distribution within 60 days of the filing of the application and

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TC_2023_Waterfront_Development.pdf

municipalities and to the quality of life of residents and visitors. Administration DCED administers the tax credit and processes (1) initial and renewal applications for organizations that seek to qualify for program designation and (2) tax credit applications for business firms to approved organizations. To qualify to receive contributions from business firms via the WDTC, waterfront development organizations must submit an initial application that includes the following information:  Age of the organization.  Meeting schedule for the organization’s board of

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TC_2021_Video_Game_Production.pdf

should be given to limiting the tax credit (or grant) to young firms that may not be viable without the initial temporary public support.  The tax credit is currently sellable and could also be made refundable for 95 cents per may not be carried back to preceding years. The credit may be sold or assigned at any time in the initial tax year or in the three subsequent tax years. 4 The credit is also transferable however, transferred credits cannot be

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Presentation-Initial-Revenue-Estimate-2018-05.pdf

Economic and Budget Outlook INITIAL REVENUE ESTIMATE FISCAL YEAR 2018-19 Commonwealth of Pennsylvania May 1, 2018 Independent fiscal office May 1, 2018 Today’s and June: large CNIT payments.  Will sales tax maintain recent strength?  Corporate Tax Bulletin. Potential revenue package. IFO Initial Estimate FY 2018-19 May.01.2018 2 Dollar Amount Growth Rate IFO Official (June 17) $32,491 2.6%

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PBB_2021_PennDOT_REPORT_ADDENDUM.pdf

8.0 8.0 8.0 8.0 -- DL applications 9.5 7.9 6.9 6.6 7.3 -- Initial title and registration 12.3 12.0 18.3 15.2 18.4 -- Service quality rates Driver license centers 5 into the state and local transportation systems. ▪ Provide financial support to broadband providers through the state’s broadband initiative. This initial investment will provide connections to over 9,000 businesses and homes in northern counties and provide connectivity and communications upgrades

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PBB_2020_DOH_REPORT_Final_Update.pdf

Cost per person for ESRD services 3 $914 $938 $1,000 $821 $812 $900 Outcome TB treatment 4 % Initiation 5 93.2% 91.7% 79.4% 92.5% 92.1% -- % Completion 6 90.3% 90.7% 83.5% 86.2% 76.4% -- LTBI treatment - Immigrants and refugees 4 % Initiation 7 84.9% 80.3% 79.0% 77.1% 64.8% -- % Completion 8 58.1% 69.8% 72.2% 54.7% 50

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Monthly_Economic_Update_April_2020.pdf

employment figures (released May 22) will provide a more complete snapshot of the pandemic’s impact on state employment. Pennsylvania Initial UC Claims Remain High, Multiple Sectors Heavily Impacted For the week ending April 11, the U.S. Department of Labor released state data that show that estimated initial claims for unemployment compensation (UC) remain high (238,357), but declined compared to the prior week (277,640; -14.1%

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TC_2023_PA_Resource_Manufacturing.pdf

exclusively to downstream companies for a period of 30 days following the approval for sale. After the expiration of the initial 30 days, they may then sell the credits to a downstream or upstream company for a period of another 30 credit programs into two categories: (1) credits that do not require a capital investment and (2) credits that require an initial capital investment. The top part of the table displays four states (Alaska, Arkansas, Maine and Nebraska) which do not require

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Revenue_Estimate_2021_05_Presentation.pdf

Initial Revenue Estimate FY 2021-22 Independent Fiscal Office May 26, 2021 Key Issues and Questions Economy overperforms due to massive profit shifting into FY 20-21 3.5% growth per annum +22.7% growth (adjusted) 6.5% growth per annum Initial Revenue Estimate FY 2021-22 May 26, 2021 19 Initial Estimate Dollar Change Percent Change Adjusted Growth General Fund $37

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Revenue-Estimate-2020-05-Presentation.pdf

Initial Revenue Estimate FY 2020-21 Independent Fiscal Office May 26, 2020 Solid PA Growth Prior to Pandemic May 26, 2020 FPUC payments end in July  Mortgage and rent payments in arrears | how bad is it? May 26, 2020 16 Initial Revenue Estimate FY 2020-21 May 26, 2020 17 Amount Shifts Adjusted Growth Adjusted General Fund $36,073 -$2,130

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RB_2021_01_Economic_Impact_of_Federal_Stimulus.pdf

pandemic. In general, the funding came in four tranches: 1) Spring 2020 Legislation To counter economic distress caused by the initial COVID-19 wave and resulting mitigation efforts, Congress enacted three pieces of legislation. These actions included the $2.2 trillion have exhausted 26 weeks of unemployment benefits to continue to receive the same level of benefits for an extended period (initially an additional 13 weeks, currently an additional 53 weeks). ▪ Extended Benefits (EB) Program Provides income support up to 50% of

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PBB_2023_DDAP_REPORT.pdf

Under the first settlement, $25.7 million will be received over a five-year period. In FY 2021-22, DDAP initiated the Pennsylvania Substance Use Disorder Loan Repayment Program (LRP) with opioid settlement and Medical Marijuana Program funds. The LRP is of DDAP’s goal to positively change attitudes and behaviors toward Pennsylvanians with opioid and substance use disorder, the department initiated an evidence-based campaign for stigma reduction of opioid use disorder. Funded by $1.9 million in federal grants, DDAP

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PBB_2022_AGING_REPORT_Addendum.pdf

Pharmaceutical Assistance (Addendum) | Page 13 Activity 1: Pharmaceutical Assistance (Addendum) The following data shall serve as an addendum to the initial Performance-Based Budget report for the PDA delivered to the General Assembly on January 19, 2022. This addendum was requested PBB) Board during a hearing on January 25, 2022. The following data are to be used in conjunction with the initial report, and not serve as a replacement for the original measures provided. The PBB Board requested additional PACE program data

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PBB_2021_DMVA_REPORT_ADDENDUM.pdf

Veterans Homes (Addendum) | Page 13 Activity 1: Veterans Homes (Addendum) The following data shall serve as an addendum to the initial Performance-Based Budget report for the DMVA delivered to the General Assembly on March 25, 2021. This addendum was requested PBB) Board during a hearing on April 28, 2021. The following data are to be used in conjunction with the initial report, and not serve as a replacement for the original measures provided. The PBB Board requested Department of Human Services

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PBB_2019_Criminal_Justice_Report.pdf

assistance from the Council of State Governments (CSG) Justice Center and the Pew Center on the States. The initial set of JRI reforms produced material population reductions and savings through policy changes in corrections and parole at the back end of compensation fees. De- creases in this measure help to reduce the inmate population.  Recommended: Days to perform initial assessment and placement in home SCI. This measure represents the efficiency with which the Department conducts assessments to place in- mates in

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Official-Revenue-Estimate-2019-06.pdf

This report provides revenue estimates for fiscal year (FY) 2018-19 and FY 2019-20, and supersedes the initial revenue estimate released by the Independent Fiscal Office on May 20, 2019. This report contains estimates for unrestricted General Fund and Motor of collecting $79 million more than anticipated in fees related to gaming expansion. For FY 2019-20, the initial estimate is $35.7 billion, an increase of $939 million (2.7 percent) over the current fiscal year. (See Table 2.2

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Initial_Revenue_Update_May_2023_Final.pdf

FY 2021-22 Independent Fiscal Office January 31, 2023 Welcome to IFO Initial Revenue Estimate Presentation should run 30 minutes ▪ Will be posted to IFO website at end ▪ Use chat feature to submit student loan moratorium extended ▪ ERC much larger (FY 22-23): $2 billion (original), $8 billion (revised) May 24, 2023 12 Initial Revenue Estimate FY 2023-24 May 24, 2023 13 Initial Estimate Dollar Change Percent Change Notes General Fund Revenues $45

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Initial_Revenue_Estimate_Presentation_May_2023_Final.pdf

FY 2021-22 Independent Fiscal Office January 31, 2023 Welcome to IFO Initial Revenue Estimate Presentation should run 30 minutes ▪ Will be posted to IFO website at end ▪ Use chat feature to submit student loan moratorium extended ▪ ERC much larger (FY 22-23): $2 billion (original), $8 billion (revised) May 24, 2023 12 Initial Revenue Estimate FY 2023-24 May 24, 2023 13 Initial Estimate Dollar Change Percent Change Notes General Fund Revenues $45

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2002_dbdc_report.pdf

great- est in years immediately before retire- ment. Favors long-term employees. Front-loaded. Benefit accrual rate great- est in initial years of employment. Fa- vors short-term employees. Benefit Distribution Benefit is only available upon retirement. Benefits may be accessed the following workforce management, design, IRS qualification, plan administration and other issues pertinent to the General Assembly’s consideration of initiating a DC plan. The list of issues was compiled from numerous sources, including a review of the available literature, consultations

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Pensions

retired prior to July 2, 2001. Adjustments range from 4.5-15% of current annuities depending on year of retirement. Initial adjustments would be effective beginning July 1, 2023 (SERS). Funding for these adjustments will be made in ten-year, equal retired prior to July 2, 2001. Adjustments range from 15-24.5% of current annuities depending on year of retirement. Initial adjustments would be effective beginning July 1, 2023 (SERS). Funding for these adjustments will be made in ten-year, equal

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TC_2022_Coal_Refuse_Energy_and_Reclamation.pdf

the location of coal refuse piles reclaimed because coal refuse may be transported across county lines to a particular facility. Initially, generation facilities used coal refuse from local sites. As those locations have been remediated, facilities must transport coal refuse over restore the site should the operator violate the terms of the bond and cause environmental damage. The site receives an initial inspection by DEP staff to measure pollution outflow prior to any mining activity and is monitored on a quarterly or

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TC_2020_Organ and Bone Marrow Donation Tax Credit.pdf

by Stakeholders ................................................................................................. 20 - This page intentionally left blank. - General Findings and Recommendations | Page 1 General Findings and Recommendations Initially enacted in 2006 and later re-established in 2014, the Organ and Bone Marrow Donation Tax Credit (OBMD) seeks to improve outcomes AGTF and award grants to reim- burse living donors for out-of-pocket expenses and lost wages. 22 Initially, the expenses would still be in- curred by the donor and reimbursement would be uncertain until approved. Policymakers could also require all

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TC_2019_New_Jobs_Tax_Credit_Report.pdf

credits from prior fiscal years. Twenty-five percent of the total credits authorized in any fiscal year are initially reserved for small businesses (those with fewer than 100 employees), but are avail- able for any firm if not committed by April award from each of the last five fiscal years. The “awarded” column is reduced for credits that were initially awarded, but later recaptured. These credits are now available for re-award and appear in the “available” column. The available total of

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SERS_Stress_Test_Impact_Analysis_2023.pdf

and immediate funding. Results from the first funding option are shown in the table below. The 13th payment increases the initial unfunded actuarial liability (UAL) by approximately $2.6 billion (not shown). The system would increase employer contributions by $370 million unfavorable results. Results from the Sensitivity Analysis (2.5) do not quantify 20-year impacts. Instead, the analysis shows the initial impact that a change in the assumed net investment rate of return would have on several metrics in the first

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Revenue_Proposal_Analysis_2024_03.pdf

includes the following regula- tory fees in addition to the new tax (detail provided by the Governor’s Budget Office): ▪ Initial Distributor/Operator License: $1,000,000 ▪ Annual Renewal of Distributor/Operator License: $100,000 ▪ Initial Establishment License: $1,000 per machine ▪ Annual Renewal Establishment License: $500 per machine The IFO projects that the proposal could

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Revenue_Estimate_Presentation_2022_05.pdf

2017 2018 2019 2020 2021 2022 CNIT Revenues (86%) Nominal PA GDP (36%) Real PA GDP (11%) 2013 = 1.00 Initial Revenue Estimate FY 2022-23 May 23, 2022 19 Initial Estimate Dollar Change Percent Change Adjusted Growth General Fund $42,258 -$5,472 -11.5% -2.5% Corporate Net Income

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Revenue_Estimate_2023_06.pdf

of 1929. This report provides revenue estimates for fiscal year (FY) 2022-23 and FY 2023-24, and supersedes the initial revenue estimate released on May 24, 2023. This report contains estimates for unrestricted General Fund and Motor License Fund revenues the housing market are much weaker. Pennsylvania Economic Forecasts Table 1.2 displays the IFO economic forecast used for this initial revenue estimate and the most recent forecast published by IHS Markit (released in June). The forecasts project that:  Real

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Revenue_Estimate_2022_06.pdf

of 1929. This report provides revenue estimates for fiscal year (FY) 2021-22 and FY 2022-23, and supersedes the initial revenue estimate released on May 23, 2022. This report contains estimates for unrestricted General Fund and Motor License Fund revenues FY 2022-23. Excluding that one-time transfer and a new transfer to the Public Transportation Trust Fund (PTTF), the initial estimate declines by $1.48 billion (-3.3%) compared to FY 2021-22. Official Revenue Estimate | Page 14 Dollar Amount

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Revenue-Estimate-2019-05-Presentation.pdf

Initial Revenue Estimate FY 2019-20 Independent Fiscal Office May 20, 2019 Main Themes PA economy performs as expected in 2018 year ending. Millions of dollars. Source: Corporate profits data from U.S. Bureau of Labor Statistics, NIPA Table 6.16D. Initial Estimate for FY 2019-20 May 20, 2019 18 Dollar Amount Dollar Change Growth Rate General Fund $35,759 $993

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Revenue Conference Presentation Jan 2013 FINAL.pdf

Depreciation 23.Jan.2013 2013 Revenue Conference 15 Bonus depreciation (100% expensing) alters the timing of tax deductions. After the initial tax reduction, bonus depreciation increases revenue compared to “ordinary” depreciation. The reversal is strongest in the first tax year after the initial decline. Year MACRS 1 Depreciation 100% Expensing Change to Net Income 1 $200 $1,000 ($800) 2 $320 0 $320

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RB_2022_06_PA_Gasoline_Tax.pdf

5%. The difference in growth rates is the result of receiving tax collections on a delayed basis. Due to the initial state revenue loss from the COVID-19 pandemic, the Pennsylvania Department of Transportation (DOT) reduced FY 2019-20 highway and Subsequently, a substantial amount of federal transportation funds has been received by DOT and may be used to offset the initial program reduction. 8 See the IFO’s Department of Transportation Performance-Based Budget Report. Figure 2 State Gas Tax Revenue

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RB-2016-02.pdf

Energy Development Authority PEDA offers revolving loans and grants and is admin‐ istered by the Department of Environmental Protec‐ tion. Initial funding for PEDA was provided through expenditures from the Growing Greener Bond Fund. The Growing Greener program allocated state funding environmental issues and provided $10 million annually to PEDA between FY 2005‐06 and FY 2009‐10. PEDA also received initial funding from a Duquesne Light Settlement Agreement with the Public Utility Commission. PEDA does not currently receive state funding on

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RB 2019 RACP.pdf

on an on-going reimbursement basis. Grantees apply for periodic reimbursement by submitting formal payment requests to the GBO. The initial payment request must include construction costs because the Commonwealth will not reimburse any costs until actual construction takes place. All recently, the debt ceiling was reduced in 2013 and 2017:  Act 63 of 1987 established the RACP and its initial cap of $400 million  Act 39 of 1993 raised the cap to $700 million (+$300 million)  Act 46

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Presentation-2018-10-Performance-Based-Budget-Board.pdf

complement (salary and wage)  Total population served and/or service levels achieved  Performance measures 5 October 15, 2018 Initial List of Agency Activities 6  Criminal Justice  14 activities focusing on recidivism reduction, inmate management, community corrections, parole court judges and juvenile probation departments, the Juvenile Justice System Enhancement Strategy, and data collection and analysis October 15, 2018 Initial List of Agency Activities 7  General Services  16 activities focusing on procurement, fleet management, surplus property, warehousing, construction

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PBB_2023_PID_REPORT.pdf

2019 2020 2021 2022 Market Analysis and Conduct Market analyses conducted 38 25 34 26 41 36 Market conduct examinations initiated 14 26 33 24 42 37 Examinations resulting in violations 6 10 10 7 10 5 Penalties assessed ($000s) $370 Division reviews insurance company annual and quarterly financial statement filings for compliance with solvency requirements to identify troubled companies and initiate enhanced supervision as required by NAIC accreditation guidelines. The Financial Examinations Division leads risk-focused financial examinations of every Pennsylvania

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PBB_2022_PDE_REPORT_Amended.pdf

passing rate” im- proves on the PSSA tests. The relationship was most pronounced for student cohorts who took the tests initially as 5 th graders and later as 8 th graders but was evident as well for 8 th to 11 Early Intervention Children enrolled (000s) 54.4 56.0 57.9 60.0 57.5 60.0 Children receiving timely initial evaluation 98% 97% 95% 94% -- -- Eligible children with IEP by 3rd birthday 99% 98% 90% 93% -- -- % Improved skills upon exit

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PA_Chamber_June_17_2021.pdf

Q2. 2019.2 = 1.0 S&P 500 PA home price index +46% +24% 1 st EIP 3 rd EIP Initial Revenue Estimate FY 2021-22 June 17, 2021 10 Initial Estimate Dollar Change Percent Change Adjusted Growth General Fund $37,960 -$2,152 -5.4% 0.7% Corporate Net Income

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Official-Revenue-Estimate-2020-06.pdf

This report provides revenue estimates for fiscal year (FY) 2019-20 and FY 2020-21, and supersedes the initial revenue estimate released on May 26, 2020. This report contains estimates for unrestricted General Fund and Motor License Fund revenues that may pages provide detail on the projected levels and growth rates for those funds. For the purpose of this initial revenue estimate, all projections are made on a “current law” basis and exclude any statutory changes or administrative actions proposed in the

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Official-Revenue-Estimate-2020-06-Presentation.pdf

FPUC payments end in July  Mortgage and rent payments in arrears | how bad is it? June 22, 2020 15 Initial Revenue Estimate FY 2020-21 June 22, 2020 16 Amount Shifts Adjusted Growth Adjusted General Fund $35,874 -$1,995 from historical levels  More telecommuting, less travel, fewer social events June 22, 2020 19 Wrap Up and Looking Forward Initial jobs impact from virus/mitigation largely known  However, do not know shape or pace of recovery  Overall, revenues

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MSC_March_31_2022.pdf

personal income tax. Adjusted growth rate controls for due date shifts, one-time transfers and extra deposit day for withholding. Initial Revenue Estimate for FY 2022-23 March 31, 2022 4 Revised 2021-22 Initial 2022-23 Dollar Change Percent Change Adjusted Growth or Notes General Fund $45,322 $43,319 -$2,003 -4.4%

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MQRE_FY21_22_August.pdf

Supplies (Act 25) The act provides an SUT exemption for supplies that are manufactured for the purpose of initiating, sup- porting or sustaining breast feeding. This provision is effective January 1, 2022. Prior Law None. Fiscal Analysis This provision is projected Pennsylvania Housing Tax Credit was created by Act 107 of 2020, but funding for the program was not initially provided. Fiscal Analysis For FY 2021-22, the analysis projects that the provision will reduce General Fund revenues by $10.0 million

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Monthly_Economic_Update_March_2023.pdf

November and remains well above pre-COVID average job openings. These data lag other labor market data by one month. • Initial Unemployment Insurance (UI) Claims Average new weekly claims for unemployment compensation during the month. The average number of new claims The latest monthly data show solid jobs gains using either measure of employment. The data also show a decline in initial UI claims in January compared to the prior month. The January data suggest that the state economy continues to expand

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Monthly_Economic_Update_January_2023.pdf

and remains well above pre-COVID average job openings. These data lag other labor market data by one month.  Initial Unemployment Insurance (UI) Claims Average new weekly claims for unemployment compensation during the month. The average number of new claims to 61.7% and remains well below the pre-pandemic average (62.8%). The latest monthly data show gains in initial UI claims and a solid increase in employment (payroll and self- employed). If monthly job gains continue, then that would

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Initial_Revenue_Estimate_Announcement_May_2023.pdf

IFO Public Presentation The Independent Fiscal Office will release an updated revenue estimate for FY 2022-23 and an initial revenue estimate for FY 2023-24. The presentation will cover recent and projected economic trends that impact General Fund revenues the link above to receive an invitation to the presentation, which will be held virtually. www.ifo.state.pa.us Initial Revenue Estimate CreationDate: 2023-05-17 18:06:32 Creator: Canva Keywords: DAFjFP_g-qc,BAE9-b1inXk ModDate: 2023-05-17

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Initial_Revenue_Estimate_Announcement_2024.pdf

IFO Public Presentation The Independent Fiscal Office will release an updated revenue estimate for FY 2023-24 and an initial revenue estimate for FY 2024-25. The presentation will cover recent and projected economic trends that impact General Fund revenues the link above to receive an invitation to the presentation, which will be held virtually. www.ifo.state.pa.us Initial Revenue Estimate CreationDate: 2024-05-13 12:16:34 Creator: Canva Keywords: "DAGFEJEe3CE,BAE9-b1inXk" ModDate: 2024-05-13 12

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Initial_Estimate_May_2017_Presentation.pdf

Economic and Budget Outlook Initial Revenue Estimate FY 2016-17 to FY 2021-22 Commonwealth of Pennsylvania May 2, 2017 The Economic Forecast.  General Non-Tax 1,040 61.6% 660 -36.5% Note: Dollar amounts are in millions. PIT is personal income tax. Initial Revenue Estimate FY 2017-18 17 02.May.2017 Factors That Affect FY 2017-18 Growth Amount Growth Underlying Base

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IFO_Hearing_Packet_Feb2019.pdf

Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 20 Provide an initial revenue estimate for the upcoming fiscal year. 1 June 20 Provide a final revenue estimate for the upcoming fiscal year Mid-Year Update FY 2017-18 (January 2018) Analysis of Revenue Proposals in the 2018-19 Executive Budget (April 2018) Initial Revenue Estimate FY 2018-19 (May 2018) Official Revenue Estimate FY 2018-19 (June 2018) Revenue Estimate Performance (July 2018

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IFO_Hearing_Packet_Feb2018.pdf

Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 1 Provide an initial revenue estimate for the upcoming fiscal year. June 15 Provide a final revenue estimate for the upcoming fiscal year. Other Analysis of Revenue Proposals in FY 2017‐18 Executive Budget (April 2017)  Property Tax Elimination Projection (April 2017)  Initial Revenue Estimate FY 2017‐18 (May 2017)  State and Local Taxes: A Comparison Across States (May 2017)  Actuarial

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IFO_Hearing_8-30-2017.pdf

Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 1 Provide an initial revenue estimate for the upcoming fiscal year. June 15 Provide a final revenue estimate for the upcoming fiscal year. Other March 2017) • Analysis of Revenue Proposals in the 2017-18 Executive Budget (April 2017) • Property Tax Elimination Projection (April 2017) • Initial Revenue Estimate FY 2017-18 (May 2017) • Quarterly Revenue Review (May 2017) • Natural Gas Production Report Quarter 1 (May 2017

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GPNP July 10, 2012 final.pdf

watchdog” agency. 10.Jul.2012 3 2012 GPNP Conference Some Specific Mandated Duties  Per Act 120 of 2010:  Initial (May 1) and Official (June 15) revenue estimate.  Five-Year Outlook Report (November 15).  Annual Revenue Conference (January Establish office web-site. 10.Jul.2012 4 2012 GPNP Conference IFO Role in Budget Process  May 1 st : Initial Revenue Estimate.  Kick off to budget season.  Meet with staff from Appropriations Committees and Revenue and Budget Offices

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EPLC_3_4_2022_update.pdf

personal income tax. Adjusted growth rate controls for due date shifts, one-time transfers and extra deposit day for withholding. Initial Revenue Estimate for FY 2022-23 March 4, 2022 18 Revised 2021-22 Initial 2022-23 Dollar Change Percent Change Adjusted Growth or Notes General Fund $45,322 $43,319 -$2,003 -4.4%

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Economic_and_Revenue_Update_2020.pdf

Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 20 Provide an initial revenue estimate for the upcoming fiscal year. June 20 Provide a final revenue estimate for the upcoming fiscal year. Other Mid-Year Update FY 2018-19 (January 2019) Analysis of Revenue Proposals in the 2019-20 Executive Budget (March 2019) Initial Revenue Estimate FY 2019-20 (May 2019) Official Revenue Estimate FY 2019-20 (June 2019) Revenue Estimate Performance (July 2019

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Budget_Hearing_Background-Feb2014.pdf

Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 1 Provide an initial revenue estimate for the remainder of the current fiscal year and the succeeding fiscal year. June 15 Provide a final trends. • Monthly Economic Report. A concise listing of the latest economic releases for Pennsylvania and the U.S. Revenue Estimates: • Initial Revenue Estimate. Due by May 1 each year. • Official Revenue Estimate. Due by June 15 each year. • Quarterly Revenue Estimates

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2023_Mid_Year_Update.pdf

20-21 21-22 22-23 23-24 +85% growth exclude rate- base changes millions of dollars controls for shifts Initial Revenue Estimate FY 2023-24 January 31, 2023 19 Initial Estimate Dollar Change Percent Change Notes General Fund Revenues $44,580 $867 2.0% Corporate Net Income 5,160 -141

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2022_Mid_Year_Update.pdf

Wage growth lags. Catches up next fiscal year, flat profits growth. Less travel, more remote working, more C corporate sales. Initial Revenue Estimate FY 2022-23 January 31, 2022 21 Initial Estimate Dollar Change Percent Change Adjusted Growth or Notes General Fund $43,319 -$2,003 -4.4% -0.8% Corporate

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2002_drop_report.pdf

4) Any IROP established by PMRS shall be subject to a compliance audit conducted by the Auditor General within the initial year of operation and no less than once every five years thereafter. - 13 - RECOMMENDATION NO. 4 (CONT’D) 5) If 17 Municipal Retirement Board shall be subject to financial and compliance audits 18 conducted by the Auditor General with the initial audit conducted within one 19 year of its establishment. 20 D R A F T - 44 - (c) PMRS noncompliance.—If

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Wage_Contracts_PDA.pdf

Total column represents the total impact of the agreement. The Federal Funds column represents the estimated amounts that will be initially incurred by a state fund, but will likely be reimbursed through federal funds. The IFO bases this analysis on material

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Wage Contract SEIU-FINAL.pdf

Funds column represents the total impact of the agreement. The Federal Funds column represents the estimated amounts that will be initially incurred by a state fund, but will likely be reimbursed through federal funds. The IFO bases this analysis on material

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Wage Contract PFBC-FINAL.pdf

Funds column represents the total impact of the agreement. The Federal Funds column represents the estimated amounts that will be initially incurred by a state fund, but will likely be reimbursed through federal funds. The IFO bases this analysis on material

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Wage Contract AFSCME-FINAL.pdf

Funds column represents the total impact of the agreement. The Federal Funds column represents the estimated amounts that will be initially incurred by a state fund, but will likely be reimbursed through federal funds. The IFO bases this analysis on material

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TC_2022_Mixed_Use_Development.pdf

not be carried back to preceding tax years. The credit may be sold or assigned at any time in the initial tax year or in the seven subsequent tax years. 3 This section begins with a description of the goals and

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TC_2022_Educational_Tax_Credits.pdf

are allocated. Applications that are unfulfilled are placed on a waitlist. If all tax credits are not awarded in the initial round, applicants can apply for additional tax credits in excess of the $750,000 maximum between October 1 and November

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TC_2021_Resource_Enhancement_and_Protection.pdf

outlined in the 2010 Chesapeake Bay Watershed Agreement (CBWA), with the intent of establishing a system of accountability. Although challenged initially, all partners signed the new agreement in 2014. The CBWA is in use today and sets the bay area TMDL

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TC_2021_Keystone_Special_Development_Zones_Update.pdf

credit. Based on that research, the IFO submits this report to fulfill the requirements contained in Act 48. The IFO initially released this analysis as a research brief in April 2021. Since that release, the IFO was notified of a new

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TC_2021_Entertainment_Economic_Enhancement_Program.pdf

may not be carried back to preceding years. The credit may be sold or assigned at any time in the initial tax year or in the three subsequent tax years. 6 The credit is also transferable however, transferred credits cannot be

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TC_2020_Research and Development Tax Credit.pdf

Credit. See the Appendix for additional information on the Grand Jury recommendations and the changes the agencies have initiated in response to the re- port. Section 5: Tax Credit Plan | Page 30 Specific Recommendations Based on these general findings, the IFO

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TC_2020_Keystone_Innovation_Zone_Tax_Credit.pdf

Credit. See the Appendix for additional information on the Grand Jury recommendations and the changes the agencies have initiated in response to the re- port. Section 5: Tax Credit Plan | Page 22 Specific Recommendations Based on the general findings, the IFO

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TC_2019_Film_Production_Tax_Credit_Report.pdf

If one state realizes strong employment gains, other states will generally record losses. For most states that record initial employment gains due to a tax credit, the credit must be maintained to retain those gains because the employment is attributable to

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SERS_Stress_Test_Impact_Analysis_2022.pdf

Page 8 Results from the Sensitivity Analysis (2.5) do not quantify 20-year impacts. Instead, the analysis shows the initial impact that a change in the assumed net investment rate of return would have on several metrics in the first

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SD_Property_Tax_Forecast_Nov_2021.pdf

provided to Pennsylvania residents after release of the previous forecast that offset the reduction in the property tax collection rate initially anticipated. Estimated delinquent collections in FY 2020-21 are essentially flat, due to the assumption that $60 million, 12% of

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RTR-2015-01.pdf

9%) for the month. Some of the increase is attributable to distributions from the clearing account ($21 million) that were initially posted to that account in December. Corporate net income tax collections have been strong as three-month revenues increased by

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Revenue_Estimate_2024_06.pdf

of 1929. This report provides revenue estimates for fiscal year (FY) 2023-24 and FY 2024-25, and supersedes the initial revenue estimate released on May 20, 2024. This report contains estimates for unrestricted General Fund and Motor License Fund revenues

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Revenue_Estimate_2016-06-15_Release.pdf

estimates for FY 2015-16 and FY 2016-17, according to director Matthew Knittel. By statute, the office issues its initial revenue estimate at the beginning of May and its official revenue estimate by June 15th. FY 2015-16 unrestricted General

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Revenue_Estimate_2015-06-15_Release.pdf

Harrisburg) - - The Independent Fiscal Office (IFO) today released its official revenue estimate, according to director Matthew Knittel. The IFO’s initial revenue estimate was released on May 4th, and the official estimate provides updates for fiscal year (FY) 2014-15 and

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Revenue_Estimate_2015-05-04_Release.pdf

estimates for FY 2014-15 and FY 2015-16, according to director Matthew Knittel. By statute, the office issues an initial revenue estimate at the beginning of May and an updated revenue estimate by mid- June. FY 2014-15 unrestricted General

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Revenue_Estimate_2014-06-16_Release.pdf

Harrisburg) - - The Independent Fiscal Office (IFO) today released its official revenue estimate, according to director Matthew Knittel. The IFO’s initial revenue estimate was released on May 1, and the official estimate provides updates for fiscal year (FY) 2013-14 and

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Revenue-Update-2020-04.pdf

the end of 2020 Q4.  The state UC payments were informed by estimates of unemployment and the number of initial claims for UC benefits as well as estimated average weekly benefits paid in Pennsylvania for affected economic sectors ($356). 1

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RB_2023_03_Rental_Assistance.pdf

who may have lost employment. The moratorium prohibited landlords from evicting tenants due to specific factors, including unpaid rent. The initial moratorium was extended several times to August 2021. A summary is as follows: ▪ March 2020: The CARES Act included a

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PSERS_Stress_Test_Impact_Analysis_2024.pdf

Analysis | Page 6 Results from the Sensitivity Analysis do not reflect quantifiable 30-year impacts. Instead, the analysis shows the initial impact on funding status that a change in the assumed 7.00% net investment rate of return would have on

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PSERS_Stress_Test_Impact_Analysis_2023.pdf

results. Highly unlikely. Results from the Sensitivity Analysis do not reflect quantifiable 30-year impacts. Instead, the analysis shows the initial impact on funding status that a change in the assumed 7.00% net investment rate of return would have on

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PSBA Presentation - Final.pdf

new debt. The remaining property tax is phased down, and then eliminated, as the grandfathered debt is retired. This feature initially reduces the property tax to be replaced, but the replacement amount increases each year as debt is retired and debt

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Presentation_PA_Bus_Council_6-22-15.pdf

3,907 Total Revenues 4,628 3,822 4,041 4,599 5,159 Dollar amounts are in millions. Title: Initial Revenue Estimate Author: Lauren Mondschein CreationDate: 2015-06-22 11:55:06 ModDate: 2015-06-22 11:55:06 Producer

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Presentation-2019-01-Mid-Year-Update.pdf

0 13 Sports Wagering 0 75 28 All Other 2 8 10 Total $129 $201 $56 Note: Millions of dollars. Initial Outlook for FY 2019-20 January 29, 2019 15 Amount $ Change Growth General Fund $35,272 $1,000 2.9%

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Presentation-2018-07-NCSL.pdf

law become less sensitive to a lower earnings assumption, but the effect phases in over time. Little impact in the initial years after enactment.  In the long term, for affected new employees, the potential increase in employer contributions associated with

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Presentation-2018-06-PICPA.pdf

0.8% Non-Tax Revenue 670 -1,900 -74.0% Note: Dollar amounts in millions. PIT is personal income tax. Initial Revenue Estimate FY 18-19 June.12.2018 18 General Fund Revenue Comparison 2017-18 2018-19 IFO (May 2018

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Presentation-2018-06-Philly-Pitt-Chambers.pdf

Net Profits, Dividends Total Annual Growth Rates Withholding federal election: possible tax cuts fiscal cliff June.04.2018 10 IFO Initial Revenue Estimate FY 18-19 Change or Growth Amount Dollar Percent General Fund $33,943 -$558 -1.6% All Tax

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Presentation-2018-06-PASBO.pdf

deposit days in quarter. Year-Over-Year Growth Rates Non-motor sales tax Wages (withholding) June.05.2018 8 IFO Initial Revenue Estimate FY 18-19 Change or Growth Amount Dollar Percent General Fund $33,943 -$558 -1.6% All Tax

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PICPA Presentation_ June 11, 2019.pdf

year ending. Millions of dollars. Source: Corporate profits data from U.S. Bureau of Labor Statistics, NIPA Table 6.16D. Initial Estimate for FY 2019-20 June 11, 2019 16 Dollar Amount Dollar Change Growth Rate General Fund $35,759 $993

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PBB_2023_EO_REPORT.pdf

age (days) 617 633 430 386 457 -- Share of cases closed within 1 year (%) 42% 36% 44% 64% 40% -- Investigations initiated per investigator 24 31 35 30 36 -- Cases resolved through mediation -- -- 0 70 123 -- Cases resolved through settlement 395 320

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PBB_2023_DCNR_REPORT.pdf

for 137 dams and 968 bridges located on state lands. In FY 2021-22, this activity completed 60 projects and initiated the bidding process for 50 projects. According to DCNR, there are currently 1,909 backlogged infrastructure projects, which require $956

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PBB_2022_AGRICULTURE_REPORT.pdf

the last two complete fiscal years. In addi- tion to the grant programs shown, the PA Farm Bill includes numerous initia- tives that invest in agriculture. This in- cludes but is not limited to (1) resources for agricultural business development and

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PBB_2020_DEP_Report.pdf

Descriptive Total unreclaimed acreage (thousands) 295 296 307 308 304 315 Output # AML/AMD reclamation projects and contracts initiated 1 206 192 185 222 230 200 # AML/AMD reclamation projects and contracts completed 1 228 196 182 229 229 220 Citizens

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PBB_2019_DGS_Report.pdf

pursuing innovation in a more comprehensive and systematic way than had ever been attempted at the agency by initiating a transformation to Lean. By making the effort to change our culture and to adopt the mindset, principles and tools first successfully

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PBB-Board-Hearing-Jan-22-2020.pdf

S. | goal for all counties for Nov 2020  VVPAT allows for paper recounts (enhances trust in election system) Most initial licensing fees lower than U.S. and border states  However, professional renewals are higher  Fee structure attempts to

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Official-Revenue-Estimate-2018-06.pdf

of 1929. This report provides revenue estimates for FY 2017-18 and FY 2018-19, and supersedes the initial revenue estimate released by the Independent Fiscal Office on May 1, 2018. This report contains estimates for unrestricted General Fund and Motor

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NCSL_PA_IFO_11_15_21.pdf

subject to split • 19 states and the District of Columbia received full disbursement. • Combined - $154.4 billion out the door initially. • $40.9 billion coming in 2022. NATIONAL CONFERENCE OF STATE LEGISLATURES 9 NATIONAL CONFERENCE OF STATE LEGISLATURES 10 Source: The

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NAP-2018-03.pdf

Table 3 Pass-Through Entities: NAP Tax Credit vs Direct Donation 2017 2018 IFO | MARCH 2018 5 ECONOMIC IMPACT The initial round of economic activity (direct spending) associated with state spending of $18 million in NAP tax credits and corresponding private

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MQRE-FY23-24_Revised_Jan.pdf

Tourism and Marketing Account. The transfer may not exceed $5.0 million. A temporary transfer of the same amount was initially enacted for FY 2022-23 only. The provision is effective immediately, makes the transfer permanent and is projected to reduce

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MQRE-FY20-21-Aug.pdf

of 2017 authorized the creation of ten Category 4 licenses to be auctioned to qualified bidders, with the initial auctions beginning no later than January 15, 2018 and concluding by July 31, 2018. Subsequent auctions were permitted through December 31, 2019

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MQRE-FY19-20-Aug.pdf

of 2017 authorized the creation of ten Category 4 licenses to be auctioned to qualified bidders, with the initial auctions beginning no later than January 15, 2018 and concluding by July 31, 2018. Subsequent auctions were permitted through August 31, 2018

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Monthly_Economic_Update_September_2022.pdf

to June but remains above pre-COVID average job openings. These data lag other labor market data by one month. • Initial Unemployment Insurance (UI) Claims. Average new weekly claims for unemployment compensation during the month. The average number of new claims

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Monthly_Economic_Update_October_2022.pdf

July but remains above pre-COVID average job openings. These data lag other labor market data by one month.  Initial Unemployment Insurance (UI) Claims. Average new weekly claims for unemployment compensation during the month. The average number of new claims

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Monthly_Economic_Update_November_2022.pdf

August and remains well above pre-COVID average job openings. These data lag other labor market data by one month. • Initial Unemployment Insurance (UI) Claims. Average new weekly claims for unemployment compensation during the month. The average number of new claims

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Monthly_Economic_Update_July_2022.pdf

months and suggest that labor demand has not abated. These data lag other labor market data by one month.  Initial Unemployment Insurance (UI) Claims. Average of new weekly claims for unemployment compensation during the month. New claims remain below the

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Monthly_Economic_Update_December_2022.pdf

September and remains well above pre-COVID average job openings. These data lag other labor market data by one month. • Initial Unemployment Insurance (UI) Claims. Average new weekly claims for unemployment compensation during the month. The average number of new claims

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Monthly_Economic_Update_August_2022.pdf

the latest estimate still exceeds pre-COVID average job openings. These data lag other labor market data by one month. • Initial Unemployment Insurance (UI) Claims. Average new weekly claims for unemployment compensation during the month. The average number of new claims

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Monthly_Economic_Update_April_4_2023.pdf

December and remains above pre-COVID average job openings. These data lag other labor market data by one month.  Initial Unemployment Insurance (UI) Claims Average new weekly claims for unemployment compensation during the month. The average number of new claims

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MER-2015-06.pdf

Housing Starts (Building Permits) Year-over-year growth rate (single units only) of privately owned homes upon which construction was initiated during the latest three-month period. 4 Current Business Activity Index A diffusion index that measures the current outlook of

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MER-2015-04.pdf

Housing Starts (Building Permits) Year‐over‐year growth rate (single units only) of privately owned homes upon which construction was initiated during the latest three‐month period. 4 Current Business Activity Index A diffusion index that measures the current outlook of

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MER-2015-03.pdf

Housing Starts (Building Permits) Year‐over‐year growth rate (single units only) of privately owned homes upon which construction was initiated during the latest three‐month period. 4 Current Business Activity Index A diffusion index that measures the current outlook of

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MER-2015-02.pdf

Housing Starts (Building Permits) Year‐over‐year growth rate (single units only) of privately owned homes upon which construction was initiated during the latest three‐month period. 4 Current Business Activity Index A diffusion index that measures the current outlook of

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MER-2015-01.pdf

Housing Starts (Building Permits) Year-over-year growth rate (single units only) of privately owned homes upon which construction was initiated during the latest three-month period. 4 Current Business Activity Index A diffusion index that measures the current outlook of

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MER-2014-12.pdf

Housing Starts (Building Permits) Year‐over‐year growth rate (single units only) of privately owned homes upon which construction was initiated during the latest three‐month period. 4 Current Business Activity Index A diffusion index that measures the current outlook of

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MER-2014-11.pdf

Housing Starts (Building Permits) Year‐over‐year growth rate (single units only) of privately owned homes upon which construction was initiated during the latest three‐month period. 4 Current Business Activity Index A diffusion index that measures the current outlook of

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MER-2014-10.pdf

Housing Starts (Building Permits) Year‐over‐year growth rate (single units only) of privately owned homes upon which construction was initiated during the latest three‐month period. 4 Current Business Activity Index A diffusion index that measures the current outlook of

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MER-2014-09.pdf

Housing Starts (Building Permits) Year‐over‐year growth rate (single units only) of privately owned homes upon which construction was initiated during the latest three‐month period. 4 Current Business Activity Index A diffusion index that measures the current outlook of

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MER-2014-08.pdf

Housing Starts (Building Permits) Year‐over‐year growth rate (single units only) of privately owned homes upon which construction was initiated during the latest three‐month period. 4 Current Business Activity Index A diffusion index that measures the current outlook of

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MER-2014-07.pdf

Housing Starts (Building Permits) Year‐over‐year growth rate (single units only) of privately owned homes upon which construction was initiated during the latest three‐month period. 4 Current Business Activity Index A diffusion index that measures the current outlook of

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MER-2014-06.pdf

Housing Starts (Building Permits) Year‐over‐year growth rate (single units only) of privately owned homes upon which construction was initiated during the latest three‐month period. 4 Current Business Activity Index A diffusion index that measures the current outlook of

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MER-2014-05.pdf

Housing Starts (Building Permits) Year‐over‐year growth rate (single units only) of privately owned homes upon which construction was initiated during the latest three‐month period. 4 Current Business Activity Index A diffusion index that measures the current outlook of

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MER-2014-04.pdf

Housing Starts (Building Permits) Year‐over‐year growth rate (single units only) of privately owned homes upon which construction was initiated during the latest three‐month period. 4 Current Business Outlook Index A diffusion index that measures the current outlook of

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MER-2014-03.pdf

a bi‐monthly basis. 6 Housing Starts (Building Permits) The growth rate of privately owned homes upon which construction was initiated during the latest three‐month period. March 2014 Monthly Economic Report Independent Fiscal Of Ðice ‐ Commonwealth of Pennsylvania Quarterly United

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MER-2014-02.pdf

a bi‐monthly basis. 6 Housing Starts (Building Permits) The growth rate of privately owned homes upon which construction was initiated during the latest three‐month period. February 2014 Monthly Economic Report Independent Fiscal Of Ðice ‐ Commonwealth of Pennsylvania Quarterly United

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MER-2014-01.pdf

a bi‐monthly basis. 6 Housing Starts (Building Permits) The growth rate of privately owned homes upon which construction was initiated during the latest three‐month period. January 2014 Monthly Economic Report Independent Fiscal Of Ðice ‐ Commonwealth of Pennsylvania Quarterly United

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MER-2013-12.pdf

a bi-monthly basis. 6 Housing Starts (Building Permits) The growth rate of privately owned homes upon which construction was initiated during the latest three-month period. Monthly Economic Report Independent Fiscal Office - Commonwealth of Pennsylvania December 2013 Quarterly United States

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May_1_Revenue_Update.pdf

first quarter (+4.5%). On May 20, the IFO will publish a revenue update for FY 2023-24 and an initial estimate for FY 2024-25. If you have any questions regarding this letter, please contact my office. Sincerely, Matthew Knittel

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Labor_Market_Update_June_2021.pdf

2021 Q2, the IFO estimates an additional $10.3 billion will be received. (For additional detail, see the IFO’s Initial Revenue Estimate released May 26, 2021.) Despite purchases motivated by the substantial transfer of federal funds, the latest payroll jobs

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June_Revenue_Estimate_2021.pdf

of 1929. This report provides revenue estimates for fiscal year (FY) 2020-21 and FY 2021-22, and supersedes the initial revenue estimate released on May 26, 2021. This report contains estimates for unrestricted General Fund and Motor License Fund revenues

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ITEP-Presentation-11-14-2019.pdf

on alternative fuel– or conversion of existing vehicle fleets to do so. No requirement to actually use alt fuels.  Initial revenue estimate: a $5 million tax credit.  Cost quickly ballooned to $680 million as people discovered how to game

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Initial_Revenue_Estimate_Annoucement_May_2020.pdf

IFO Public Briefing The Independent Fiscal Office will release an updated revenue estimate for FY 2019-20 and an initial revenue estimate for FY 2020-21. The briefing is open to the public and submitted questions will be addressed at

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Initial_Estimate_May_2017_Press_Release.pdf

estimates for FY 2016-17 and FY 2017-18, according to director Matthew Knittel. By statute, the office issues an initial revenue estimate at the beginning of May and an updated revenue estimate by mid- June. FY 2016-17 unrestricted General

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Initial_Estimate_Announcement_May_2022.pdf

IFO Public Presentation The Independent Fiscal Office will release an updated revenue estimate for FY 2021-22 and an initial revenue estimate for FY 2022-23. The presentation will review and discuss recent and projected economic trends that impact General

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Initial_Estimate_Announcement_May_2021.pdf

will be held virtually. The Independent Fiscal Office will release an updated revenue estimate for FY 2020-21 and an initial revenue estimate for FY 2021-22. The briefing is open to the public and submitted questions will be addressed at

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Impact_Fee_Update_Outlook_2024.pdf

aging wells that pay lower fees. There were fewer new wells drilled in CY 2023 than any year since the initial levy of the fee (2011). Estimated impact: -$13.3 million. 2020 2021 2022 2023 Total Revenues $146.3 $234.4

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IFO_Pension_Analysis_Policies_(January_1_2024).pdf

Reference Bureau (LRB) and include an official Printer’s Number. • Once a formal request is submitted, IFO staff may provide initial, informal feedback to requesting members or staff on legislative intent, general expected impact and other issues. However, the IFO cannot

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IFO_Hearing_Materials_March_2023.pdf

Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 20 Provide an initial revenue estimate for the upcoming fiscal year. June 20 Provide a final revenue estimate for the upcoming fiscal year. Other

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IFO_Hearing_Materials_Feb_22_2022.pdf

Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 20 Provide an initial revenue estimate for the upcoming fiscal year. June 20 Provide a final revenue estimate for the upcoming fiscal year. Other

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IFO_Hearing_Materials_02_2024.pdf

Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 20 Provide an initial revenue estimate for the upcoming fiscal year. June 20 Provide a final revenue estimate for the upcoming fiscal year. Other

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Five_Year_Outlook_2023.pdf

occurred because the CHC program was imple- mented across a third of the Commonwealth in FY 2018-19, and the initial appropriation was $694 million. For FY 2023-24, the appropriation is $5.39 billion and is projected to increase to

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Five_Year_Outlook_2022.pdf

000s) Economic Outlook | Page 13 Payroll Employment In Spring 2020, the Pennsylvania labor market made a rapid recovery from the initial shock of 1.13 million payroll job losses (excludes self-employed) as businesses reopened and partially resumed normal opera- tions

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Five_Year_Outlook_2021.pdf

profits and specific industry partners. Payroll Employment In Spring 2020, the Pennsylvania labor market made a rapid recovery from the initial shock of 1.13 mil- lion job losses as businesses reopened and partially resumed normal operations. However, the pace of

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Five_Year_Outlook_2020.pdf

weeks claimed retroactively) in July 2020, but fell to nearly 500,000 in the final week of 2020. After an initial spike, the IFO projects the level of PUA claims will return to this level by the end of 2021 Q1

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Five_Year_Outlook_2019.pdf

for iLottery are projected to total $564 million in FY 2019-20, the first full year after the initial ramp-up. Sales in future fiscal years level off, growing at an anticipated rate of 1.7 percent per annum. The forecast

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Economic_and_Revenue_Update_2021.pdf

Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 20 Provide an initial revenue estimate for the upcoming fiscal year. June 20 Provide a final revenue estimate for the upcoming fiscal year. Other

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Congressional_Budget_Office_Nov_15_2022.pdf

gov/publication/57950. 8 Total Deficits, Primary Deficits, and Net Interest Outlays In CBO’s projections, primary and total deficits initially shrink as a percentage of GDP and then generally increase, particularly in the second half of the projection period. The

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Budget_Hearing_Background_Feb2016.pdf

Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 1 Provide an initial revenue estimate for the current fiscal year and subsequent fiscal year. June 15 Provide a final revenue estimate for the

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Budget Hearings Packet.pdf

Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 1 Provide an initial revenue estimate for the upcoming fiscal year. June 15 Provide a final revenue estimate for the upcoming fiscal year. Other

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Budget Hearings Packet- Web Version.pdf

Secretary of the Budget and the Secretary of Revenue to discuss economic trends and revenue performance. May 1 Provide an initial revenue estimate for the upcoming fiscal year. June 15 Provide a final revenue estimate for the upcoming fiscal year. Other

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April_1_Revenue_Update.pdf

payments are largely known. On May 20, the IFO will publish a revenue update for FY 2023-24 and an initial estimate for FY 2024-25. If you have any questions regarding this letter, please contact my office. Sincerely, Matthew Knittel

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Analysis of Recent Collective Bargaining Agreements.pdf

Funds column represents the total impact of the agreements. The Federal Funds column represents the estimated amounts that will be initially incurred by a state fund, but will likely be reimbursed through federal funds. The IFO bases this analysis on material

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Act_1_Index_Update_Nov_2023.pdf

is projected to decrease dramatically for FY 2025-26, and moderately decline to 3.1% by FY 2028-29. The initial decline in the base index is driven by a two- percentage point drop in the SAWW component. The reduction for

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2020_Mid_Year_Update.pdf

Act 43-2017 and PA Bulletin 2018-01 from SUT. PIT for FY 20-21 excludes extra withholding deposit date. Initial Outlook for FY 2020-21 January 28, 2020 18 FY 20-21 Change from FY 19-20 Prelim Dollar Growth

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2018_Mid-Year_Update.pdf

April-May final payment. 29.Jan.2018 24 Corporate Net Income Tax Trends Mid-Year Update 29.Jan.2018 25 Initial Outlook for FY 2018-19 Preliminary Annual Increase Amount Dollar Percent General Fund $33,914 -$866 -2.5% Corporate Net

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2004_srpvffinal.pdf

eligibility points; (B) courses of 20 to 45 hours duration, one eligibility point per hour for each hour over the initial 20 hours, with a maxi- mum of 10 eligibility points; and (C) courses over 45 hours duration, 15 eligibility points

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Right-to-Know

business days, pursuant to Section 901 of Act 3 of 2008. Right-to-Know Request Form IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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Releases

August 2024 • July 2024 • June 2024 • May 2024 • April 2024 • March 2024 • February 2024 • January 2024 IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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Pensions

Commonwealth available in the “Special Reports” link. Actuarial Notes Legislation Enacted Special Reports Retirement Legislation Database IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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Pensions

Firefighters (1984) Recommendation of Actuarial Funding Standards and a Recovery Program for Municipal Pension Systems (1983) IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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Pensions

Since 2001 PA Public Employee Pension Statutes Public Employee Retirement Laws For Pennsylvania Local Governments (2009) IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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Pensions

P.L. 723, art. XVII, § 1701, et seq., as amended, 16 P.S. § 4701, et seq. IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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Pensions

a private "alternative retirement plan" as an alternative to membership in PSERS, SERS or TIAA-CREF. IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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Pensions

for retired members; providing for the housing of juvenile offenders, and miscellaneous other non-pension provisions. IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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Pensions

Service Service Credit Purchase Service Credit Transfer Studies Survivor Benefits Vesting Volunteer Firefighter Pensions Search Clear IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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Pensions

Bureau House Bill House Resolution Senate Bill Senate Resolution Sort By Date Bill Number View Reset IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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Links

Internal Revenue Service • Joint Committee on Taxation • Office of Management and Budget • FRED - St. Louis Fed IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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Job Opportunities

IFO - Job Opportunities IFO IFO • Latest Releases • Revenue Estimates • Revenue & Economic Update • Performance Budgeting • Energy • Pension Analysis • Property Tax • Wage Contracts • Tax Credit Review • Economics and Other • Data • Right-to-Know • About • About IFO • Job Opportunities • Contact IFO • Email Subscription • Links • Follow on Twitter • • Job Opportunities Current Job Openings Fiscal Analyst Announcement IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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Email Subscription

the following form and click on the "Submit" button. Name: Email: 1 Unsubscribe Me Submit Reset IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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Data

IFO - Data IFO IFO • Latest Releases • Revenue Estimates • Revenue & Economic Update • Performance Budgeting • Energy • Pension Analysis • Property Tax • Wage Contracts • Tax Credit Review • Economics and Other • Data • Right-to-Know • About • About IFO • Job Opportunities • Contact IFO • Email Subscription • Links • Follow on Twitter • • Data Historical General Fund Revenues Historical Motor License Fund Revenues IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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230-8293 contact@ifo.state.pa.us Follow on Twitter 1728633604789 Full Name Email Message Submit IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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Economic Calendar

IFO - Economic Calendar IFO IFO • Latest Releases • Revenue Estimates • Revenue & Economic Update • Performance Budgeting • Energy • Pension Analysis • Property Tax • Wage Contracts • Tax Credit Review • Economics and Other • Data • Right-to-Know • About • About IFO • Job Opportunities • Contact IFO • Email Subscription • Links • Follow on Twitter • • Economic Calendar IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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About IFO

projects and forecasting department expenditures. Other responsibilities include working on demographics and additional subjects as needed. IFO Pennsylvania Independent Fiscal Office Email Subscription Get alerts on new studies and reports. Sign Up Latest Tweets • (Oct 02) Surge in iGaming slots revenue drives Act 1 property tax relief to $800 million, an increase of $132 million (20%) from prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/yxkXFf4Tt5 • (Oct 01) The Commonwealth collected $4.16 billion in General Fund revenues for September, an increase of $105 million compared to September 2023. Fiscal year 2024-25 revenues total $10.09 billion, an increase of $248 million from the prior year. See: ifo.state.pa.us/Resources/Docu… pic.x.com/FapviDs3Fc • (Sep 25) For FY 23-24, PA gaming taxes generated $2.4 billion, and most was paid by middle income residents. See: ifo.state.pa.us/Resources/Docu… pic.x.com/2MYUoxAIbx Contact Info (717) 230-8293 contact@ifo.state.pa.us Follow on Twitter Independent Fiscal Office 2nd Floor Rachel Carson State Office Building 400 Market Street Harrisburg, PA 17105 viewport: width=device-width, initial-scale=1.0, maximum-scale=1.0 msapplication-TileColor: #ffffff msapplication-config: /Resources/images/favicons/browserconfig.xml?d=20230414 theme-

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