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JBC approves sweeping interest from cash funds in Table 3, adopts one‑year sweep for housing grant fund
Summary
The Joint Budget Committee voted to include transfers listed in Table 3 of the draft, moving most transfers to ongoing status while making a one‑year sweep of the Housing Development Grant Fund for fiscal 02/2025; the committee then introduced bill LLS 25,934 to implement those transfers.
The Joint Budget Committee on April 21 approved a package of cash‑fund interest transfers to the general fund drawn from Table 3 in its memo packet and introduced a bill to implement that action.
Craig Harper (GBC staff) briefed members on the proposal first authorized in March: permanent transfers of interest earnings from cash funds that originate as general fund and limited one‑time transfers designated to address the committee’s balancing assumptions. Harper said the committee’s long‑bill narrative assumed roughly $103 million in available interest…
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