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Eagle Today
By the People, for the People
Idaho State Revenues Up in March, But Still Behind Forecast
State budget projected to end fiscal year with $36.9 million surplus, $30.5 million less than initial estimate
Apr. 15, 2026 at 4:28am
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An abstract visual representation of Idaho's state budget surplus and revenue forecasting challenges.Eagle TodayIdaho state revenues exceeded projections for March, but continue to lag behind the forecast the Idaho Legislature used for the state budget, according to a new state revenue report. While the state budget is projected to end the current fiscal year with a $36.9 million surplus, that is $30.5 million less than the $67.3 million surplus initially estimated by legislators.
Why it matters
Idaho's state budget is closely watched because the state constitution prohibits running a budget deficit. The recent legislative session focused on budget cuts to account for federal tax cuts and guard against revenue uncertainty, underscoring the importance of accurate revenue forecasting.
The details
Individual income tax, corporate income tax, and sales tax collections all exceeded forecast amounts for March. However, overall state revenue collections for the entire fiscal year 2026 have come in $30.5 million below the revenue projection the Idaho Legislature's joint budget committee set in January. The state budget is projected to end the fiscal year with a $36.9 million surplus, but that is $30.5 million less than the initial $67.3 million surplus estimate.
- Idaho's fiscal year 2026 ends on June 30, 2026.
- The recent 2026 Idaho legislative session adjourned on April 2, 2026.
- Gov. Brad Little vetoed House Bill 975, which will result in an additional $53.7 million being transferred from the Budget Stabilization Fund to the state general fund for fiscal year 2027.
The players
Idaho Legislature
The state legislature that sets the budget and revenue projections for Idaho.
Brad Little
The Governor of Idaho who vetoed House Bill 975.
Scott Grow
A Republican state senator from Eagle who serves as co-chairman of the Idaho Legislature's Joint Finance-Appropriations Committee.
What’s next
The Idaho Legislature's Joint Finance-Appropriations Committee will continue to monitor the state's revenue collections and budget projections as the fiscal year comes to a close on June 30.
The takeaway
Idaho's state budget remains in a precarious position, with revenues lagging behind initial projections despite a March uptick. This underscores the importance of accurate revenue forecasting and the state's constitutional requirement to avoid deficits, which led to recent budget cuts and the transfer of additional funds from the state's savings account.
