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House adopts change to rainy‑day targets, raising education reserve to 7%
Summary
First substitute HB49 passed the House to set the education rainy‑day fund target at 7% and the general fund at 6%, end automatic year‑end surplus transfers once targets are met, and clarify withdrawal rules for operating deficits; supporters said the change protects funding volatility for education.
The Utah House passed the first substitute to House Bill 49 on the third-reading calendar, updating state budget reserve rules. Representative Wayne Harper described the substitute as setting the education rainy‑day target at 7% (up from 6%) and the general fund target at 6, while ending automatic year‑end surplus transfers once those caps are reached.
Harper told members…
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