Idaho § 56-271 - MEDICAID BUDGET STABILIZATION FUND

§ 56-271. MEDICAID BUDGET STABILIZATION FUND

There is hereby created in the state treasury the medicaid budget stabilization fund. By the close of fiscal year 2025 or as soon thereafter as practicable, a total of twelve million dollars ($12,000,000) of all unobligated general fund moneys remaining in the cooperative welfare fund from appropriations made to the division of medicaid shall be transferred to the Idaho millennium income fund established in section 67-1806 , Idaho Code. Beginning in fiscal year 2024 and each year thereafter, the remainder of any unobligated general fund moneys remaining in the cooperative welfare fund from appropriations made to the division of medicaid shall be transferred to the medicaid budget stabilization fund following the department of health and welfare’s year-end reconciliation. Moneys in the medicaid budget stabilization fund shall consist of such transfers and such other moneys that may be provided by legislative appropriation. The state treasurer shall invest idle moneys in the medicaid budget stabilization fund, and the interest earned on such moneys shall be retained by the fund. Moneys in the medicaid budget stabilization fund shall be expended solely for the purpose of meeting general fund revenue shortfalls or covering unanticipated expenses for services administered by the division of medicaid and shall only be expended pursuant to legislative appropriation.