House Bill No. 7262 mandates the Office of Fiscal Analysis (OFA) to conduct a review of appropriations from the General Fund for the fiscal year ending June 30, 2026. The review will focus on identifying areas of spending that have increased by ten percent or more compared to the previous fiscal year. The OFA is required to submit the findings of this review to the Appropriations Committee by February 1, 2026. This new requirement is set to take effect on July 1, 2025, as indicated by the inserted legal language.

The bill does not impose any fiscal impact on the state or municipalities, as the OFA has the necessary expertise and staff to carry out the review without additional costs. The proposed budget for the fiscal year includes appropriations for the General Fund and eleven other funds, but the bill specifically focuses on the General Fund's expenditures. The bill was reported favorably by the Appropriations Committee, reflecting a joint favorable action with a vote of 40 in favor and 14 against.