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Legislative analysts present $700 million structural surplus amid choices over tax relief, spending and transfers
Summary
Legislative Services Office staff told the Joint Finance-Appropriations Committee that Idahos revenue outlook leaves roughly $700 million in structural balance for FY2025FY2026 under the governor's forecast, while the committee will weigh transfers, one-time spending and tax relief.
Keith Bybee, division manager for budget policy analysis at the Legislative Services Office, briefed the Joint Finance-Appropriations Committee on Idahos FY2025 and FY2026 general fund outlook and cash reconciliation.
Bybee said the governors budget projection shows a persistent gap between projected revenues and projected expenditures of about $700 million over the near business cycle: "For fiscal 2025, you're seeing a structural balance of almost $700,000,000 with the current revenue forecast," he told the committee. He explained that revenues remain above pre-pandemic trend lines in part because population growth pushed personal income and income-tax collections higher after federal COVID relief such as the CARES Act and the American Rescue Plan Act.
The overview showed FY2024 actual general fund collections at about $5.7 billion, a governors-recommended FY2026 baseline revenue near $5.9 billion, and total recommended expenditures on the order of $6.26 billion in the governor's call. After transfers and the…
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