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Ky. reports sharp decline in General Fund revenue

FRANKFORT, Ky. (AP) - Kentucky is reporting a sharp decline in General Fund revenue in February.

Budget Director Jane Driskell said collections for the month were down 5.2 percent, costing the state nearly $30 million.

Individual income tax revenue fell by 14.1 percent in February. Cigarette tax collections were down by 14.4 percent. And coal severance tax revenue dropped by 24.5 percent.

Those declines weren't offset by gains in several revenue sources.

Sales tax revenue increased by nearly 1 percent. Corporate income tax receipts rose by 41 percent. And property tax collections were up nearly 41 percent.


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