Budget reserve account-repeal.

The budget reserve account is repealed and replaced with a legislative stabilization reserve account, changing the name and purpose of the state's financial reserve mechanism.

Interfund loans can now be drawn from the legislative stabilization reserve account or the general fund to meet obligations due before revenue receipt, with a $60 million limit on outstanding loans.

Unencumbered fund balances in excess of recommended reserve amounts must now be transferred to the legislative stabilization reserve account by the state auditor at the end of fiscal year 2028 and each succeeding fiscal biennium, rather than being handled through the old budget reserve process.

A new timeline is established requiring the state auditor to transfer excess unencumbered fund balances to the legislative stabilization reserve account starting at the end of fiscal year 2028.