This budget brief is the final in a series that provides analysis of the revenue proposals included in the 2026-27 Governor’s Executive Budget. The IFO projects that the proposals would generate $652 million in FY 2026-27 and $1.76 billion by FY 2030-31. Despite the new revenue initiatives, a $6.8 billion deficit remains by the end of the period.
This report provides a revenue estimate for the proposal to legalize recreational marijuana contained in the FY 2026-27 Governor's Executive Budget. The Independent Fiscal Office (IFO) publishes this report to fulfill its statutory duties as provided under Section 604-B (a)(4) of the Administrative Code of 1929. The act requires that the IFO “provide an analysis, including economic impact, of all tax and revenue proposals submitted by the Governor or the Office of the Budget."
This report provides a revenue estimate for the proposal to tax and regulate skill games contained in the FY 2026-27 Governor's Executive Budget. The Independent Fiscal Office (IFO) publishes this report to fulfill its statutory duties as provided under Section 604-B (a)(4) of the Administrative Code of 1929. The act requires that the IFO “provide an analysis, including economic impact, of all tax and revenue proposals submitted by the Governor or the Office of the Budget."