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Posted: 10:18 AM Sep 2, 2010
AL Tax Collections Still Lagging
Alabama tax collections remain below last year's level.
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MONTGOMERY, Ala. (AP) - Alabama officials report that tax collections for the state Education Trust Fund were down 1.8 percent in the first 11 months of this fiscal year compared to the same period a year earlier.
The Birmingham News says the state finance department reported Wednesday that the trust fund, the main source of state funds for public schools and colleges, collected $4.739 billion in October through August, a drop of $85.9 million compared to the same period a year earlier.
Officials say education tax collections have improved for two consecutive months.
The finance department also reported that revenues for the General Fund, a major source of money for Medicaid, prisons and other state functions, totaled $1.147 billion in October through August, a drop of $306.8 million, or 21.1 percent, from a year earlier.
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