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Committee hears status of savings accounts — budget stabilization and public education stabilization funds near statutory caps
Summary
Legislative staff described growth in the state's savings accounts, including the budget stabilization fund and the public education stabilization fund, and explained statutory caps, the temporary code suspension used previously, and how those caps affect transfer decisions.
Keith Bybee presented charts showing growth in the Budget Stabilization Fund (BSF) and the Public Education Stabilization Fund (PSIF), explaining how transfers and statutory caps have shaped the balances.
Bybee said a governor‑recommended $59 million transfer to the budget stabilization fund would raise the balance to about $939 million — the largest balance on record under current projections — and that the BSF would be near…
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