This bill proposes several updates to current statutes regarding the handling of federal funds and budget stabilization. Specifically, it introduces new provisions that require any unrestricted federal monies received by the state between July 1, 2025, and June 30, 2026, to be deposited into the state general fund for essential government services. Additionally, the bill states that these provisions will apply retroactively from June 30, 2025.

Furthermore, the bill modifies the requirements for the budget stabilization fund for the fiscal years 2025-2026, 2026-2027, and 2027-2028. It specifies that the legislature will not be obligated to appropriate or transfer funds from this stabilization fund during these years. Additionally, for the fiscal year 2025-2026, the budget stabilization fund will not be restricted to ten percent of the state general fund revenue, and the state treasurer is prohibited from transferring any surplus from this fund to the state general fund.