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State's stabilization accounts near record levels; committee hears options on statutory cap and reserves
Summary
Legislative Services Office reported that transfers in the governor's budget would push the budget stabilization fund and public education stabilization fund toward historical highs, explaining statutory caps, a temporary waiver enacted last year, and how those reserves would be used during a downturn.
Keith Bybee and committee members discussed the size and statutory treatment of Idaho's savings accounts during the JFAC budget briefing.
Bybee told the committee the governor's proposed $59 million transfer to the budget stabilization fund would raise that fund to about $939 million if made, which he described as the largest balance on record. "That additional $59,000,000 represents a 6.7% increase from fiscal year 2025," Bybee said, and he explained that the statutory cap is 15% of general fund revenues."
Background and legal context: Bybee noted that last year…
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