State revenue collections up 3 percent this year

JEFFERSON CITY, Mo. -- Missouri's revenue collections are up and appear on pace to meet the state's slashed budget.

State budget director Dan Haug on Friday announced net general revenues are up 3 percent so far this fiscal year.

That's lower than what the last governor and Legislature estimated when they drafted the current budget.

Former governor Jay Nixon and new Gov. Eric Greitens combined have cut more than $340 million to balance the budget.

Greitens and lawmakers now say they're expecting revenue growth of 3 percent this fiscal year.

The latest figures show individual income tax collections are up 3.6 percent this year. But corporate income and corporate franchise tax revenue is down close to 30 percent.

Missouri's 2017 fiscal year began in July 2016 and runs through the end of June.