House Bill No. 8003 introduces temporary adjustments to the Budget Reserve Fund and appropriates funds to address reductions in federal funding for various state programs. The bill mandates that once the Budget Reserve Fund reaches eighteen percent of the net General Fund appropriations for the fiscal year ending June 30, 2026, the Treasurer must transfer five hundred million dollars from unexpended appropriated funds to the Budget Reserve Fund. This transfer will prevent further contributions to the fund until it falls below the eighteen percent threshold. Additionally, any excess funds in the Budget Reserve Fund on June 30, 2026, will be appropriated for payments toward unfunded past service liabilities of state employee and teacher retirement systems.

Furthermore, the bill appropriates five hundred million dollars from the Budget Reserve Fund to the Office of Policy and Management for the fiscal year ending June 30, 2026, to mitigate federal funding reductions affecting programs such as the Special Supplemental Nutrition Program and housing assistance. Any unspent funds from this appropriation must be returned to the Budget Reserve Fund by February 4, 2026. The Secretary of the Office of Policy and Management is also required to notify legislative leaders of any expenditures or transfers made under this act, allowing for potential disapproval by a majority vote within twenty-four hours.