February 13, 2023 |
In the legislature, the main work of the session—the state’s supplemental budget bill—is now in reconciliation. The House and Senate passed different versions. Five members from each body will meet in conference committee in hopes of negotiating the various differences, including amendments, to create a final budget.
The bill contains appropriations of $492 billion from the General Fund and another $393 billion from the Legislative Stabilization Reserve Account, commonly known as the Rainy Day Fund.
The supplemental budget also includes appropriations of $119.5 billion worth of federal funds.
Governor Mark Gordon said in a statement on Friday that the supplemental budget bill will save more than $1 billion while making strategic investments for the future. The budget also addresses inflation and helps state residents by expanding the property tax refund program, a move that local governments are watching for its impact on county revenues.
