This terrible recession may be starting to loosen its grip--while still being pretty terrible.
For March 2010, state General Fund revenue was higher than March 2009, and that's good news.
That's not huge good news. For the full fiscal year (counting from last July 1), this year's revenue is still far behind last year's.
However, a month with growth is better than continued decline.
Also, the March growth means we're on-track to meet the most recent revenue estimate. If that continues, we won't see any more cuts to this year's funding for education and other government efforts.
Source: the March Tax Receipt Report from the Office of State Budget Development, here.