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House approves changes to budget reserve rules after extended debate
Summary
The Utah House on March 2 passed HB 333 to raise statutory reserve percentages — moving the general fund target and increasing the education rainy‑day threshold — after members debated whether surplus funds should be saved or allocated now to education. The amendment to limit the education increase failed; HB 333 passed 62–11 and moves to the Senate.
The Utah House on Monday passed HB 333, a measure that adjusts statutory limits on state reserve accounts intended to bolster stability against revenue swings. Sponsor Representative Sampey presented the bill as a prudential step to increase the state's rainy‑day reserves and blunt the effects of future downturns.
The bill would raise the general fund reserve limit modestly and increase the education rainy‑day fund from the existing 9 percent target toward 11 percent, a change Sampey framed as "a small step in the right direction" to protect services in future recessions. "We went through that process again this…
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