Tennessee's general fund revenue is $114 million less than estimated and the state's other tax collections are down by $3.6 million but Finance and Administration Commissioner Jim Bryson said he is optimistic the next three months will be better.
Revenue for all sources is off by $117.6 million when compared to estimates and is $316.9 million less than in April of last year, according to Bryson.
The most significant reduction is in corporate franchise and excise collections, which are $153.2 million below estimate, a 13.2% drop.
