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Bill

HB 1471

Concerning budget stabilization account transfers.

2025-2026 Regular Session Introduced by Timm Ormsby

HB 1471 modifies Washington's budget stabilization fund transfer rules, adjusting state access to emergency reserves during fiscal challenges.

By resolution, reintroduced and retained in present status.
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Bill Summary · HB 1471

Legislative bill overview

HB 1471 addresses transfers to or from Washington State's budget stabilization account (rainy day fund). The bill modifies the conditions and procedures governing when the state can access these reserve funds during fiscal shortfalls or budget pressures.

Why is this important

The budget stabilization account serves as a financial buffer during economic downturns or revenue shortfalls. How easily the state can access these reserves directly affects the state's fiscal flexibility, tax policy decisions, and ability to maintain services during recessions without immediate spending cuts or tax increases.

Potential points of contention

  • Accessibility vs. fiscal discipline: Loosening transfer restrictions could enable more spending flexibility but risks depleting reserves; tightening restrictions maintains discipline but reduces emergency responsiveness
  • Economic timing: Determining when conditions warrant fund access involves subjective judgments about severity and duration of fiscal stress
  • Long-term solvency: Changes affect the state's capacity to weather extended downturns versus funding immediate needs

Compiled from official sources — confirm details with the bill’s official record.

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