ILLINOIS, KFVS- Illinois Governor Pat Quinn announced Tuesday that fiscal year 2013 income tax revenues will exceed the Illinois Department of Revenue's forecast.
According to a press release from Quinn's office, revenues will exceed the forecast by about $1.3 billion.
Reportedly this is a one-time revenue stream, that comes from businesses and people selling assets or getting early dividends, bonuses or other income anticipation.
It also comes from people getting higher federal tax rates for 2013.
The governor's office says the higher level of revenues is a one-time occurrence because it was in response to a federal policy change that will not occur next year.