May 18, 2024

House, Senate agree on framework of FY 2025 budget

April 18, 2024 - On Tuesday, April 16, House and Senate leaders reached agreement on the overall size of the Fiscal Year 2025 budget and the allocation of funds to the various budget subcommittees. For the budget starting on July 1, the state will spend $8.9135 billion from the General Fund. This is an increase of 4.23 percent over the current year’s budget. The new budget would spend 91.91 percent of ongoing state revenue as projected by the state’s Revenue Estimating Conference.

This amount is spread out through the various budget bills produced by the Legislature’s seven budget subcommittees. The funds are allocated for Fiscal Year 2025 as follows:

Agreed FY 25 budget.

Budget subcommittees are working to finalize the budget bills and complete the work of the 2024 legislative session.