The Economic Stabilization Fund, otherwise known as the Rainy Day Fund, has reached it’s cap. The Rainy Day Fund was approved by voters in 1988, helps to keep the state fiscally sound during uncertain times. It is primarily funded by oil and natural gas taxes.
The Rainy Day Fund has finally reached its cap. The fund had never come close to reaching the cap until recently. The cap is a fluctuating value, equal to no more than 10% of the amount of revenue deposited into the General Revenue Fund during the previous biennium.
The current balance of the fund is $24.28 billion, with the cap set at $26.43 for 2025.
More information on the Rainy Day Fund can be found here.
