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State Tipoffs Involving Maine Newsletter for 2023-08-18 ( 1 items ) |
Maine Gov. Mills Announces Maine's Budget Stabilization Fund Has Reached New Record High, Statutory Maximum (10)
AUGUSTA, Maine, Aug. 18 -- Gov. Janet Mills, D-Maine, issued the following news release on Aug. 17, 2023:
Governor Janet Mills announced today that the State's Budget Stabilization Fund, also commonly known as the Rainy Day Fund, has reached $968.3 million, a record high and the maximum allowed under State law.
The Fund reached its maximum after the State ended the 2023 Fiscal Year in the black with a $141 million surplus, triggering a "cascade" that distributed the surplus funding into certai more PR
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