Pennsylvania’s Independent Fiscal Office (IFO) provides revenue projections for use in the state budget process along with impartial and timely analysis of fiscal, economic, and budgetary issues to assist PA residents and the General Assembly in their evaluation of policy decisions. The IFO published its Monthly Economic Update on Wednesday (for December). The update contains a rather ominous paragraph projecting impact fee revenues for 2020 will drop by $53 million–to the lowest level of revenue generated since PA enacted an impact fee.
Pennsylvania’s Independent Fiscal Office (IFO) provides revenue projections for use in the state budget process along with impartial and timely analysis of fiscal, economic, and budgetary issues to assist PA residents and the General Assembly in their evaluation of policy decisions. The IFO published its Monthly Economic Update on Wednesday (for December). The update contains a rather ominous paragraph projecting impact fee revenues for 2020 will drop by $53 million–to the lowest level of revenue generated since PA enacted an impact fee.