The Budget Stabilization Account (BSA) is an appropriated account originally created in the state Constitution in 2007 and modified in 2011 that may be thought of as an account for operating budget reserves. Funds must be transferred into the BSA each year equal to 1 percent of General State Revenues.
Under certain conditions, additional transfers are required. Funds may be appropriated from the BSA with a constitutional majority under certain periods of forecasted low employment growth, or for declared disasters and limited to that specific purpose. Funds may be appropriated from the BSA with at least a three-fifths vote by the Legislature in all other instances.
On August 19, 2023, the Governor declared a state of emergency in all Washington counties due to threats to life and property from existing and threatened wildfires.
The sum of $21,143,000 is appropriated from the BSA for state fiscal year 2024 and is provided solely for fire suppression costs incurred by the Department of Natural Resources in the 2023 fire season.
(In support) This is a companion to House Bill 2170. There were catastrophic fires in Washington last summer, which burned 165,000 acres. The amount of the appropriation in the bill is the latest update from the Department of Natural Resources on their costs for the fire season. The bill simply appropriates from the Budget Stabilization Account for those fire costs.
(Opposed) None.
K.D. Chapman-See, Office of Financial Management.