A couple of notes on fair share.
1) The Education and Transportation Fund (ETF) is in its 2nd full year, and as such had to fund its reserve balance of ~340 million before all else in FYs23-24, the year your referencing numbers from. This is the "rainy day" portion of Fair share and is only to be used "during significant revenue declines"
2) the ETF has a legislated spending cap, in FY24 of 1.0 billion. This is currently being proposed by the H.2 budget to rise to 1.3B in FY25 but that action hasn't taken place yet.
3) as a result of that spending cap, the excess revenue is dedicated to two funds, the reserve and capital fund. The reserve fund is a second piggy bank, again for revenue slowdowns. The capital fund is explicitly only to fund one-time expenses, and has no appropriation timeline attached so the state can squirrel away money for something down the road, but it can't fund recurring expenses. As yet I don't believe we've seen proposals funded from the capital fund, and we won't until at least the end of the year when those excesses are certified.
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4) the text of the Fair Share amendment to the state constitution explicitly states to "provide the resources for quality public education and affordable public colleges and universities, and for the
repair and maintenance of roads, bridges and public transportation, all revenues received in accordance with this paragraph shall be expended, subject to appropriation, only for these purposes." Therefore, while the legislature can appropriate this money for capital, fixing the T's infrastructure and the like, it actually can't fund Operations through this. (The reduced fare money was "one time expenses to explore the feasibility of").