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Legislative analysts report 2.5% year-over-year growth in state general fund; several tax bills still could change outlook
Summary
A Legislative Services Office analyst told the Joint Finance-Appropriations Committee that the committee's current general fund plan shows a 2.5% increase year over year but that several pending tax bills — including an income tax cut — could reduce projected revenue.
BOISE — The Joint Finance-Appropriations Committee (JFAC) heard an update on the state general fund on the committee’s “green sheet,” showing a modest year-over-year rise but pointing to pending legislation that could change the revenue outlook.
Keith Bybee, division manager for Budget and Policy Analysis, told the committee that the committee previously adopted a FY2025 revenue projection of $5.99 billion and that, after accounting for original appropriations, reappropriations and executive carryover, the Legislature is currently carrying a balance of about $463 million. “Right now, you have a 2.5% budget increase year over year,” Bybee said.
Why it matters: The green sheet is a running summary the committee uses to track adopted revenue targets, maintenance budgets and outstanding legislative actions. Bybee told members several high-profile tax bills remain active and could reduce the state’s revenue target for future fiscal years.
Key details
- Bybee said the Legislature adopted a revenue projection for FY2025 of $5,990,000,000 and that the FY2025 original appropriation plus reappropriation and executive carryforward totals about $5.244 billion, leaving a current carryover balance of roughly $463 million.
- The committee’s maintenance budget recorded on the green sheet stands at about $5.404 billion in JFAC action, which Bybee said is $133,862,600 more than the FY2025 original appropriation and about $250 million below the governor’s maintenance-level request.
- Several tax-relief bills are active and cited as potential downward pressure on revenues. Bybee named House Bill 40, an income tax-cut measure the analyst projected would reduce FY2026 revenue by about $253 million; HB 40 was described on the green sheet as being in Senate Local Government and Taxation. Other bills on the status list included House Bill 83 and House Bill 93 on the House third-reading calendar.
- Bills that would affect committee workload and cost include Senate Bill 1028 (creating a new judicial judge in the First Judicial District and a district judge in the Seventh Judicial District) and House Bill 124 (a judicial salary increase bill), both noted by the analyst as items that will affect appropriations.
Discussion and next steps
Bybee told members the green sheet will be updated regularly as bills move through both chambers; committee members asked no substantive follow-up questions during the presentation. The committee retains discretion over the revenue target and appropriation adjustments as tax bills advance.
Ending
The green sheet presentation was procedural; it framed the committee’s work for the coming weeks as the Legislature considers tax changes and other bills that could materially change the state's revenue outlook.
