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JFAC analyst reports $463 million carryover and flags tax bills that could cut revenues
Summary
Legislative analysts told the Joint Finance-Appropriations Committee that Idaho’s FY2025 revenue projection and current appropriations leave a $463 million carryover while several pending tax bills — including a proposed income tax cut — could reduce future revenue.
Keith Phibbe, Division Manager of Budget Policy Analysis, told the Joint Finance-Appropriations Committee that the Legislature is carrying an estimated $463 million balance on the General Fund green sheet and that the committee must still act on several outstanding items.
The update, delivered at the committee’s budget hearing, said the committee adopted a revenue projection of $5,990,000,000 for fiscal 2025 and that the Legislature’s original FY2025 appropriation was $5,200,000,000 plus $44,000,000 in reappropriations and executive…
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