Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
House appropriations briefing outlines tighter near‑general‑fund outlook, uses surplus and one‑time transfers to cover shortfalls
Summary
Budget coordinator Mary Monroe told the House Appropriations Committee that the chair’s substitute for House Bill 22‑89 assumes the February 2026 revenue forecast, removes a statutory 4.5% growth add‑on and relies on a mix of transfers and new revenue assumptions (including a millionaires tax and BSA transfers) to produce modest NGFO reserves while projecting a FY28 shortfall.
Mary Monroe, the committee’s budget coordinator, opened the hearing with a high‑level briefing of the near general fund outlook embedded in the chair’s proposed substitute for House Bill 22‑89. Monroe said the plan assumes the February 2026 Economic and Revenue Forecast Council forecast, and does not apply the statutory 4.5% growth adjustment that otherwise would add nearly $2 billion in NGFO resources.
Monroe highlighted three revenue and transfer assumptions that materially affect the picture: $2.1 billion in assumed NGFO revenues in fiscal year 2029 tied to a gross Senate bill identified in the materials as a “tax on millionaires,” an $880 million…
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
