New Jersey's finances surged back up in April, mostly due to a record increase in income tax payments, and that now has Gov. Phil Murphy pitching a one-time property tax relief program.

The state collected $3.6 billion in income taxes in April, topping the previous record April from 2008, when New Jersey took in $3.14 billion, Treasurer Elizabeth Maher Muoio told lawmakers Tuesday. This follows a few slow winter months when income taxes fell below predicted levels due to changes in federal and state taxes.

The Treasurer's Office increased this year's total revenue projections by $377 million compared with predictions last month, up to $38.1 billion. Muoio predicted that the state will end fiscal year 2019 with a $1.14 billion surplus.

Revenues for the next fiscal year are now expected to be almost $39.1 billion in 2020, up nearly $240 million from Treasury's last estimate.

The additional $250 million Murphy wants to spend on property tax relief would be a one-time refundable tax credit and go to the Homestead tax credit program and Senior Freeze program, his office said. Murphy's proposed budget previously included a combined $485 million for both programs. Muoio anticipates it could benefit more than a million taxpayers.

This year, the state also took in more than expected from the corporate business tax, and Treasury increased its estimate by $99 million to $3.8 billion. Muoio estimates that almost half of that growth came from one-time revenue sources New Jersey won't see the following year. The state won't have a full picture until the fall, when businesses with extensions file their taxes.

Last year, New Jersey increased taxes on corporations making more than $1 million in income from 9 percent to 11.5 percent. The tax will decrease each year and fall back to 9 percent after four years.

The state collected enough money through the gas tax that it may prevent the need for a fuel tax increase next fall, said David Drescher, a senior analyst at the state Office of Legislative Services. Another gas tax increase would be the third hike in four years.Treasury reported about $48 million more revenue in 2019 than expected.

Muoio said Tuesday that the state expects to deposit $317 million into New Jersey's "rainy-day fund" — an account allowed to be tapped only for emergencies or significant revenue downturns — marking the first deposit in 11 years. After the recession hit, the state withdrew all of the fund's $734 million to offset revenues, and it has been empty since.

"The upcoming fiscal year will mark a new chapter for us, with a surplus that is nearly triple the previous administration’s average, allowing for continued, increased investments in our core priorities," Muoio said in a statement. "By asking the most fortunate among us to pitch in just a little more, we can truly create a stronger, fairer state, marking a significant ‘turning of the page.' ”

DARK MONEY:With Murphy veto, push to name secret big-money donors now part of NJ tax credit fight

NJ TRANSIT:As big costs loom, is Phil Murphy's $25 million bump for NJ Transit enough?

MIKE KELLY:Shining the spotlight on NJ's dirty secrets of tax incentives

New Jersey statute requires that half of any extra revenue above the amount the governor certifies when he signs the appropriations law has to go into the rainy-day fund.

But Sarlo said Tuesday that “it was still an option on the table” for the Legislature to override that requirement and not move that extra revenue to a rainy-day fund. "I’ve always believed a surplus is important ... but taxes should be a last resort,” he said. Muoio confirmed that the Legislature could do so "if it determines."

Senate President Stephen Sweeney, D-Gloucester, said he would rather give the extra money to other priorities, such as employees who work with disabled people.

"I think it's misguided and we should focus on the needs that we're not funding," Sweeney said. "I don't know if you know, but it's been raining in New Jersey for years."

Murphy said last week that the state collected “somewhat more revenue” than expected in April, after a March shortfall, and that he also hoped to allocate an additional $250 million to property tax relief if the Legislature approved the governor’s proposed “millionaires tax.”

But legislative leaders didn’t bite, with Sweeney calling the idea a “gimmick” and a spokesman for Assembly Speaker Craig Coughlin, D-Middlesex, saying in a statement that he does not “share the governor’s view that middle-class property tax relief must be tied to another income tax hike, especially if there is, indeed, unanticipated revenue due to higher than expected tax receipts."

Sarlo asked Muoio why a millionaires tax was necessary this year, and why push for it when both legislative leaders said it probably wouldn't happen. Muoio said New Jersey needs a more stable way to pay expenses moving forward and that many one-time revenues will not be available next year.

Last month, Muoio and legislative budget experts testified that the state collected less than projected between the top two revenue sources, income and sales taxes. They expected an increase in April due to New Jerseyans' waiting to file their taxes until the April 15 deadline, and that changes in the federal tax code and new state taxes last year made predicting revenue prediction more difficult.

Murphy must sign a balanced budget passed by the Legislature before July 1.