LITTLE ROCK, Ark. (AP) — Arkansas has ended its fiscal year with a record $1.6 billion budget surplus.
Gov. Asa Hutchinson on Tuesday said he planned to call lawmakers back into session to take up tax relief plans because of the surplus.
The Republican governor said he hopes to announce the dates for the special session later this week.
The Arkansas Department of Finance and Administration said the state’s net available revenue for the fiscal year that ended June 30 totaled $7.4 billion. The last record for the state’s surplus was last year, when the state reported a $945.7 million surplus.
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