JLBC Release FY 27 Legislative Budget Recommendation

The Joint Legislative Budget Committee (JLBC) adopted its Fiscal Year 2027 Legislative Budget Recommendation (LBR) last Wednesday, December 10. FY 27 will encompass the 2026-2027 school year. The LBR’s FY 27 General Fund budget is $40.6 million less than FY 26 General Fund appropriations. The FY 27 LBR leaves $3 billion unallocated or in reserves, so the state has the resources to pass a significant teacher pay raise. It is simply a matter of if a pay raise is a priority for state leaders. The LBR provides $8.3 million for health insurance increases, $6.2 million for the 0.5% PERS increase, an additional $24.7 million for the Mississippi Student Funding Formula, and an additional $2.1 million for the Chickasaw Interest. It provides $454.5 million in General Fund support for our state’s institutions of higher learning, as well as $291.1 million for community colleges. The LBR will serve as the starting point for development and adoption of the final FY 27 budget during the upcoming legislative session.