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Savings near statutory caps as JFAC hears proposal to top off budget stabilization and school reserve
Summary
Legislative Services Office staff told the committee Idaho's budget stabilization fund and public education stabilization fund would rise under the governor's recommendation and explained statutory caps and recent temporary code changes that affect transfers.
Legislative staff briefed the Joint Finance‑Appropriations Committee on the state's savings accounts and how they interact with the budget forecast.
Keith Bybee reviewed the budget stabilization fund (BSF) and public education stabilization fund (PESF) balances and statutory caps. He said transferring the governor's recommended $59,000,000 to the BSF would raise the balance to about $939,000,000 — which the presentation showed would be at or near the statutory 15% cap for general fund revenues if revenues materialize as projected. Bybee told members the legislature in the prior year temporarily set aside the statutory automatic return —…
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