BOISE, Idaho — The amount of money in Idaho's rainy-day fund that serves as a cushion against a potential economic downturn would increase under proposed legislation.
The Legislature's powerful budget-setting committee on Friday followed Republican Gov. Brad Little's recommendation and voted for the House to hear the bill that would increase the Budget Stabilization Fund to 15% of general fund revenues. The fund is currently capped at 10%.
Republican Sen. Scott Grow said a recession isn't looming, but Idaho will eventually have to deal with one.
State officials say that change plus deposits would get the fund to more than $600 million by next year.
