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Governor proposes transfers to savings and stabilization funds; staff outline statutory caps and recent changes
Summary
JFAC members heard details about proposed transfers to the budget stabilization fund and public education stabilization fund, recent changes to statutory caps, and the state's larger savings position compared to 2009.
Legislative staff outlined the governor's proposed transfers into two principal savings accounts and reviewed the state's saved balances relative to past recessions.
Keith Bybee told the Joint Finance-Appropriations Committee the governor recommended a $59 million transfer to the budget stabilization fund (BSF) and a $50 million transfer to the Public Education Stabilization Fund (PESF) for the 2025-26 cycle. Bybee said a $59 million deposit would push the BSF to about $939 million, close…
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