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House Appropriations panel advances bill shifting $2 billion into budget stabilization fund
Summary
The House Committee on Appropriations on April 30 reported House Bill 678 as amended, moving $2 billion from a revenue stabilization fund into the state's budget stabilization (rainy day) fund and adopting an amendment that changes how mineral revenues are handled.
The House Committee on Appropriations on April 30 reported House Bill 678 as amended, a measure that would repeal a dedication of certain revenues to a revenue stabilization trust fund and transfer $2,000,000,000 into the state's budget stabilization fund, leaving the rainy day fund with roughly $3,000,000,000 — about 25% of the state general fund.
The change would consolidate specific revenue streams into the budget stabilization fund and remove a prior dedication of mineral revenue into the revenue stabilization trust fund. Committee members adopted Amendment 1986, which the committee staff said clarifies how mineral revenues would be treated for the remainder of fiscal 2027 and makes…
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