Triple-A rated Georgia’s net revenue collections for March decreased 14.5% compared to March 2008, the government announced.
Motor fuel tax revenue was down 28.6%, while corporate income taxes fell 23.6%. Individual income taxes were down 18.8% and property tax revenues declined 10.7%.
So far this fiscal year, revenue supporting the state’s general fund has decreased 8%, or more than $1 billion.
In an effort to move quickly on stimulating the local economy, Gov. Sonny Perdue last week announced that $207 million of funds available to the state from the federal stimulus package would soon be put to work on road projects.
Perdue said that he submitted the required “1511 Certification” on 67 road projects around the state to be funded through the American Recovery and Reinvestment Act. The projects represent approximately one-fourth of the funds that will be available to Georgia for transportation through the stimulus package.
“This first batch of projects includes some badly needed bridge repairs, resurfacing projects on highways with some of our lowest pavement ratings, and two widening projects that will improve congestion and safety and spur economic activity,” Perdue said in a statement.
He also noted that about half of the funds represented in the projects will be spent in parts of the state considered “economically distressed areas.”
Georgia’s stimulus accountability Web site is at
Late last week, Perdue requested a presidential disaster declaration to receive federal aid because of severe weather and flood damages in 33 counties.
