Annual cash based budget development.

HB 147 changes Wyoming's state budget process by requiring that recommended spending for each two-year budget cycle cannot exceed two-thirds of the state's actual revenue from the previous three fiscal years. This limits how much the state can spend based on verified past revenue, excluding certain funds like pension reserves and unencumbered balances. The bill directly affects state budget planners, the governor's office, and the legislature when developing annual budgets. It repeals older budget rules about fund transfers and stabilization accounts, effective July 1, 2023. The key change is a new revenue-based spending cap to prevent budgeting based on projected or hypothetical revenue increases.