The increase was due largely to higher sales tax revenues, which reached nearly 4 percent higher than projections. Payroll tax collections were also up, totaling $386.1 million for the month.

The tax report from the State Budget Agency is the first since a bipartisan committee predicted that state government will receive $30.6 billion in the next two-year budget cycle.

Compared to the last biennium, lawmakers will have an additional $842 million in new money. That’s $360.5 million (2.4 percent) in additional funds for Fiscal Year 2016 and $482.3 million (3.2 percent) in FY 2017.

The report came during the first week of the General Assembly’s 2015 session, where the main goal of lawmakers is to write the next two-year state budget.

Pence’s proposed budget passed committee by a roll call vote of 4-1 Thursday and moves to the House Ways and Means Committee. It is likely to undergo major changes.

Article writer Ashley Shuler is a reporter at TheStatehouseFile.com, a news website powered by Franklin College journalism students.