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Utah Legislature approves budget-balancing bill using reserves and CARES funds
Summary
Senate Bill 5001, a sweeping budget-balancing measure that draws on reserves, rainy-day funds and CARES Act money while restoring priority items, passed the House after floor debate on appropriations and cuts.
The House approved Senate Bill 5001 on June 18, a comprehensive appropriations adjustment intended to balance the 2020–21 fiscal year budget amid COVID-19 revenue declines.
Representative Last, the House sponsor, outlined the scope: ongoing revenue shortfalls of approximately $757 million and $93 million one-time, base budget reductions of about $341 million ongoing and $82 million one-time, and restorations for priority areas including Medicaid…
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