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JFAC analyst reports 2.5% year-over‑year General Fund maintenance increase; tax-cut bills could reduce revenues
Summary
Legislative analysts told Idaho’s Joint Finance-Appropriations Committee the FY2025 maintenance budget is about $5.404 billion (a 2.5% increase from FY2024) and flagged pending tax-cut bills — notably House Bill 40 — that could reduce revenues by an estimated $253 million in FY2026.
Keith Phibbe, Division Manager for Budget Policy Analysis, told the Joint Finance-Appropriations Committee on the General Fund "green sheet" that the legislature is currently carrying a balance and that maintenance budget actions taken so far leave an overall year-over-year maintenance increase of about 2.5%.
Phibbe said, "Every member should have a copy of this nice green piece of paper, otherwise known as the green sheet," and walked members through the major lines, noting the committee adopted a FY2025 revenue projection of $5,990,000,000 based on the Economic Outlook Committee and Revenue Assessment recommendation.
The presentation summarized key figures relevant to the committee’s ongoing budget work: FY2025 original appropriations plus reappropriations and carryforwards, a current carryover balance the Legislature is managing, and the maintenance budget total in JFAC action to date of about $5,404,000,000 — roughly $133.86 million above the FY2025 original appropriation.
Why it matters: the green sheet gives legislators a running tally of revenue projections, maintenance spending and outstanding items that still require legislative action. Phibbe highlighted that while the maintenance budget is roughly $250 million below the governor’s proposal at the time of the presentation, several tax-relief bills moving through the Legislature could materially change revenue availability.
Most immediately, Phibbe pointed to House Bill 40, an income tax cut bill. He said the committee’s projection for HB 40 is a $253,000,000 reduction in FY2026 revenue, with the amount growing thereafter. Phibbe also noted other tax bills moving through the process (House Bills 83 and 93) and additional measures that could affect the committee’s work, including judicial staffing and judicial salary bills (Senate Bill 1028 and a judicial salary increase bill referenced in the House rules calendar).
The committee did not take final action on the revenue target during the update; Phibbe closed by offering to answer questions and said members would continue to see the green sheet updated as bills move across the rotunda.
The presentation and the green sheet are expected to be reviewed repeatedly during the session as tax bills progress and as JFAC completes remaining appropriation actions.
