Coronavirus (COVID-19): Revised State Revenue Projections

9/10/2020

NCSL is tracking the budgetary and economic consequences of the coronavirus (COVID-19) pandemic. This page summarizes projected revenue shortfalls and revised estimates by state and fiscal year (FY).

Revised State Fiscal Year 2021 Revenue Declines AL AK AZ AR CA CO CT DC DE FL GA HI IL IN IA KS KY LA ME MA MD MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VA WA WV WI WY VT ID PR AS GU MP VI

Percentage Decline

 < 5%

6-10%

11-15%

16-20%

 > 20%

 

State revenue assumptions vary by state. Please use caution in making comparisons. States in gray or not listed does not necessarily mean they are not experiencing declines. It may mean they have not revised their forecast or we are not aware of a revised forecast. For more details see reports in the chart below.

Last update: Sept. 3, 2020.

 

The above map represents revised state FY 2021 revenue declines. The chart below provides for more details on revised state revenue declines as a result of the Coronavirus pandemic. 

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COVID-19 Revised State Revenue Declines 
Percent of Pre-COVID Projections Fiscal Year 
State  FY 2020 FY 2021 Date Source
Alabama        
Alaska 11% 15% April 22 Legislative Finance Division
Arizona 8% 7% June 19 Joint Legislative Budget Committee
Arkansas 2% 3% July 2 Department of Finance and Administration
California   16-21% May 9 Legislative Analyst Office 
Colorado  5% 20% June 19 Legislative Council 
Connecticut  2% 13% August 17 Office of Policy and Management
Delaware   6% June 17 Economic and Financial Advisory Council
D.C. 9% 9% April 24 Office of the Chief Financial Officer 
Florida  6% 10% August 14 Revenue Estimating Conference
Georgia        
Hawaii  7% 12%   Council on Reserves 
Idaho    1% August 1 Division of Financial Management
Illinois  6% 12% May 20  Commission on Government Forecasting and Accountability 
Indiana  8% 12% June 30 State Budget Agency 
Iowa 2% 4% May 29 Revenue Estimating Conference
Kansas 11% 6% April 30 Office of Consensus Revenue Estimates 
Kentucky  4% 11-17% May 27 Office of the State Budget Director 
Louisiana  3% 10% May 11 Revenue Estimating Conference 
Maine 1% 13% August 1 Revenue Forecasting Committee 
Maryland  5-6% 11-14% May 14 Office of the Comptroller 
Massachusetts         
Michigan  13% 12% May 15  Consensus Revenue Agreement 
Minnesota   7% May 5 Management and Budget 
Mississippi         
Missouri         
Montana 2% 13% June 23  Legislative Fiscal Division
Nebraska         
Nevada  12%   June 10 Legislative Council Bureau
New Hampshire  5-8% 9-15% June 1 House Ways and Mean Committee
New Jersey 7% 18% May 13 Department of Treasury 
New Mexico 5-6% 22-30% June 10 Consensus Revenue Estimating Group 
New York   13% April 25 Department of Budget 
North Carolina  7% 10% May 22 The Fiscal Research Division and the Office of State Budget and Management 
North Dakota        
Ohio   9% June 10 Office of Budget and Management
Oklahoma  7% 16% April 30 Board of Equalization 
Oregon    11% May 20  Office of Economic Analysis 
Pennsylvania 10% 3% May 26 Independent Fiscal Office 
Puerto Rico 8% 5% June 11 Financial Oversight and Management Board  
Rhode Island 5% 11% May 18 Revenue Estimating Conference 
South Carolina 5% 6% May 8  Board of Economic Advisors 
South Dakota         
Tennessee        
Texas   10% July 20 Comptroller of Public Accounts
Utah  1% 9% June 17 Office of the Legislative Fiscal Analyst 
Vermont   11% August 12 Joint Fiscal Office 
Virginia 1% 6% August 18 Secretary of Finance
Washington 15%   June 15  Economic and Revenue Forecast Council 
West Virginia         
Wisconsin 5%   July 9 Legislative Fiscal Bureau 
Wyoming  9% 20% May 26 Legislative Service Office 
         

Kentucky | Includes General Fund and Road Fund. FY 2021 estimate for Q1 and Q2. 
Minnesota | Estimate for 2020-2021 biennium
Montana | Year-over-year estimate.
Oregon | Estimate for 2019-2021 biennium.
Texas| Estimate for 2020-2021 biennium
Utah | Includes General Fund and Education Fund.
Washington | Year-over-year estimate.
Wyoming | | Estimate for 2021-2022 biennium

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