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JFAC analyst reports 2.5% year‑over‑year increase in maintenance budget; tax bills could lower future revenue
Summary
Legislative analysts updated the Joint Finance-Appropriations Committee on the General Fund outlook, reporting a 2.5% increase in maintenance appropriations for FY2025 and flagging several pending tax bills — notably an income tax cut — that would reduce future revenue projections.
The Joint Finance-Appropriations Committee received an update on the General Fund “green sheet” that showed current maintenance appropriations are about 2.5% higher than the previous year and that pending tax legislation could reduce future revenue.
Keith Phibbe, Division Manager of Budget Policy Analysis, told the committee that the Legislature has adopted a FY2025 revenue projection of $5,990,000,000 and that the committee is “currently carrying over a balance of $463,000,000.” He also said the maintenance budget adopted so far totals about $5,404,000,000, an increase of about $133,862,600 over the FY2025 original appropriation.
That maintenance figure represents a 2.5% year‑over‑year increase, Phibbe said. He noted the Legislature’s maintenance total remains roughly $250,000,000 below the governor’s proposed maintenance budget.
The analyst flagged several bills on the green sheet that could affect revenue. Most prominently, he identified House Bill 40 as an income tax cut projected to reduce FY2026 revenue by about $253,000,000 and to grow in later years. He also listed other tax‑relief measures moving through the chambers and legislative proposals that would affect judicial staffing and judicial salaries, including a judicial judge creation bill and a judicial salary increase bill.
Phibbe said asterisks on the green sheet indicate items that still require action by the committee or the Legislature and that members will continue to see the sheet updated as bills progress across the rotunda.
No committee votes or formal actions were recorded during the update. Phibbe closed by offering to answer questions; none were raised.
The committee will continue to monitor tax‑relief bills, appropriation changes, and other legislative actions that could alter the revenue picture and the available General Fund balance.
