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Analyst: Idaho General Fund shaping for FY2025–26 after recent tax bills; uncertainty remains
Summary
Budget analysts told JFAC that after recent bill activity the projected FY2025 ending general fund balance is about $442 million and the committee set a $6.4 billion revenue number for 2026, but several bills and supplementals still affect the out-year picture.
Keith Bybee, division manager for Budget Policy Analysis with the Legislative Services Office, updated the Joint Finance-Appropriations Committee on March 7 on the state's General Fund outlook for fiscal years 2025 and 2026.
Bybee said that after adding Department of Corrections supplementals the current projected FY2025 ending balance is about $442 million but cautioned there are still many moving parts and a number of bills that will affect both years. He said the committee recently set a 2026 revenue number at $6.4 billion.
Bybee noted that some tax legislation had already become law (he cited House Bill 40 as signed the previous day) and referenced other bills on the governor's desk, including House Bill 93, and several bills affecting judicial workloads and salaries. He told members the Legislature’s aggregate FY2025 general fund appropriations were about 3 percent higher than the original FY2025 appropriation, driven largely by health insurance and CEC costs.
Why it matters: the update frames JFAC's remaining work on FY2026 appropriations. Bybee emphasized continued committee action will be needed to address lines of demand on available revenues and that several bills and technical corrections were still being tracked.
Bybee said agency-level detail showed the Legislature is currently about $155 million above prior year appropriations on the general fund and that the team had corrected small items in the governor's revised budget after working with agency staff.
He closed by noting there remain "a lot of moving parts" and the committee will continue to take up budgets and track newly printed legislation.
Speakers: Keith Bybee (Division Manager, Budget Policy Analysis) delivered the briefing and answered committee questions; Mr. Davis (colleague) was also referenced during the discussion.
Next steps: JFAC will take up remaining budgets in the coming days and continue to reconcile bill impacts on the General Fund.
