Relates to the appropriation and transfer of moneys to the General Fund for fiscal years 2024 and 2025.

This bill provides a onetime cash transfer to the General Fund and directs the Office of the State Controller to not transfer funds from the rainy day fund to the General Fund. Section 57-814, Idaho Code requires the Office of the State Controller to transfer any balance that exceeds 15% of General Fund revenue collections of the year just ended from the Budget Stabilization Fund, otherwise known as the rainy day fund, to the General Fund. The fund balance of the rainy day fund is at the statutory cap of 15% of General Fund revenues for FY 2023. The current revenue forecast for FY 2024 is 5.1% below FY 2023 General Fund revenue collections. If this revenue forecast holds, funds in the Budget Stabilization Fund would be transferred back to the General Fund. Rather than reducing the balance in the Budget Stabilization Fund, section 2 directs the Office of the State Controller to not make the transfer from the Budget Stabilization Fund to the General Fund.