Here is a balance sheet comparison of the budget passed by the House yesterday (March 8) to those passed by the House on February 29 and the Senate on March 3:

Compared to the earlier House-passed budget, the March 8 House budget:

• Loses $24 million in new revenue from reductions in distributions to local governments. The new House budget adopts the Senate provisions regarding local government distributions.
• Gains $72 million more in the “other revenue legislation” category. This is largely due to the adoption of the Senate provision to redirect the solid waste tax to the general fund-state.
• Gains $17 million more in budget driven revenue. The largest item here is $15 million from the sale of the liquor distribution center. Again, this provision is taken from the Senate budget.
• Loses $58 million in transfers. The big change here involves certain GF-S reversions that are under current law to be transferred to the education savings account at the end of each fiscal year. The original House budget transferred these funds back to the GF-S. The new budget simply suspends the transfers from the GF-S. (The resulting gain to the GF-S shows up on the estimated NGFS reversions line under Spending.)
• Loses $75 million by dropping the proposal to delay levy equilization payments.
• Loses $115 million in policy level spending reductions.
• Gains $78 million from reversions.
• Leaves $99 million less in reserve.

Download Budget Balance Sheet