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Budget office: budget stabilization fund near statutory cap; governor proposes $59 million transfer
Summary
Legislative staff said the governor's recommended transfer would raise the budget stabilization fund to about $939 million (near a 15% statutory cap); committee discussion noted a prior temporary suspension of the cap and asked how interest and TANs interact with cash management.
Keith Bybee, division manager for budget policy analysis, walked JFAC through the state's savings accounts and the budget stabilization mechanics, saying the governor's recommendation would add $59 million to the budget stabilization fund and bring it to its largest balance historically.
"That additional $59,000,000 represents a 6.7% increase from fiscal year 2025. It currently sits at $880,000,000 and that would hit the statutory limit of 15% of general fund revenues, if revenues showed up just…
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