Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
JBC updates Advanced Industries transfer amounts, routes surplus above $2.5M to controlled maintenance
Summary
The Joint Budget Committee voted 6–0 to update the Advanced Industries transfer to reflect updated revenue estimates and to direct staff to show any general‑fund amounts more than $2.5 million above the reserve as a placeholder to be transferred to the Controlled Maintenance Trust Fund; the committee also changed the transfer timing to June 30, 2026.
The Joint Budget Committee on March 27 approved staff-recommended updates to the Advanced Industries transfer and directed how newly available general‑fund dollars should be treated as the Legislature finalizes the long bill.
Mitch Burmeister, a JBC staff analyst, told the committee that an OEDIT request to transfer half of Bioscience income‑tax withholding to the general fund had been estimated at about $6,400,000 but "it's actually gone up to about 11,000,000," an increase he said was roughly $4,600,000. Burmeister also noted a smaller, separate forecast increase of about $60,000 for fiscal 2025–26.
Craig Harper, Joint Budget…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
