Bringing the Economy Home

The Otter Administration’s Key Budget Points

Governor C.L. “Butch” Otter’s budget staff will spend the first few days of the legislative session explaining its budget proposal to lawmakers.  Division of Financial Management Administrator Wayne Hammon will officially start that work tomorrow.  Hammon met with reporters today to outline the administration’s key budget requests.

Here are some important points:

  • Governor Otter is proposing a $2.6 billion budget for Fiscal Year 2013, that’s up more than $126 million from the budget lawmakers approved in 2012
  • $45 million in tax cuts
  • $31 million on K-12 education, the department requested $69 million
  • $21.3 million on colleges, universities and community colleges
  • $5 million for IGEM [Idaho Global Entrepreneurial Mission]
  • $60 million set aside for the state’s rainy day funds
  • $41 million for one-time, merit-based bonuses for state employees and public school teachers, only if the state meets two projected revenue forecasts
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