Before the start of session two groups meet to discuss various limits on parts of the budget lawmakers can impact during the upcoming session. The Select Economic Stabilization Fund Balance (ESF) committee will meet on November 30 to determine and adopt a sufficient balance to maintain in the ESF, also referred to as the Rainy Day Fund. During the 85th Session the ESF sufficient balance for 2018-2019 was $7.5 billion, the session before that it was set at $7 billion. Additionally, the Legislative Budget Board (LBB) will meet on November 16 to set the constitutional spending limit on certain appropriations for the 2020-21 biennium. Last session the LBB selected an even lower estimate than the five forecasts they were provided and set the rate of growth of 8% to a base amount of $92.5 billion which set the limit of certain appropriations for the 85th Session at $99.9 billion, without concurrent resolution and subject to adjustments appropriated to the last biennium.
