Iowa's revenue picture continues to improve, with the state's Revenue Estimating Conference now projecting that an additional $34.1 million will be collected in the current fiscal year over previous estimates and $85.5 million next year.

The new estimates are the ones used by the governor and lawmakers to put together a fiscal 2012 budget. The projections mark an improvement over an October forecast when the estimating conference said it expected the state to collect nearly $300 million, or 2.2%, more in revenue during fiscal 2011 and 3.3% more in fiscal 2012. The state is operating on a $5.28 billion fiscal 2011 budget.

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