The Maine Budget Stabilization Fund, or the "Rainy Day Fund," serves as a reserve account to be used to offset a General Fund revenue shortfall. The fund is also used to fund payments of certain death benefits for law enforcement officers and firefighters. The Budget Stabilization Fund is one of two Major General Fund Reserve Funds.
In addition to direct appropriations, interest earnings, and transfers of budgeted resources in excess of the appropriations limitation, the fund is also capitalized at the close of each fiscal year from distributions of the available unappropriated surplus of the General Fund through the “cascade”.
The Budget Stabilization Fund had a balance of $896 million as of June 30, 2022. Below is a history of balances in the Budget Stabilization Fund: