diff --git a/src/coreclr/gc/gc.cpp b/src/coreclr/gc/gc.cpp
index 6cf5283476abae..eb0d85583a849e 100644
--- a/src/coreclr/gc/gc.cpp
+++ b/src/coreclr/gc/gc.cpp
@@ -20265,6 +20265,7 @@ void gc_heap::update_collection_counts ()
         }
 
         dd_gc_clock (dd) = dd_gc_clock (dd0);
+        dd_previous_time_clock (dd) = dd_time_clock (dd);
         dd_time_clock (dd) = now;
     }
 }
@@ -36712,6 +36713,7 @@ bool gc_heap::init_dynamic_data()
         dynamic_data* dd = dynamic_data_of (i);
         dd->gc_clock = 0;
         dd->time_clock = now;
+        dd->previous_time_clock = now;
         dd->current_size = 0;
         dd->promoted_size = 0;
         dd->collection_count = 0;
@@ -36737,21 +36739,19 @@ float gc_heap::surv_to_growth (float cst, float limit, float max_limit)
 //not be correct (collection happened too soon). Correct with a linear estimation based on the previous
 //value of the budget
 static size_t linear_allocation_model (float allocation_fraction, size_t new_allocation,
-                                       size_t previous_desired_allocation, size_t collection_count)
+                                       size_t previous_desired_allocation, float time_since_previous_collection_secs)
 {
     if ((allocation_fraction < 0.95) && (allocation_fraction > 0.0))
     {
-        dprintf (2, ("allocation fraction: %d", (int)(allocation_fraction/100.0)));
-        new_allocation = (size_t)(allocation_fraction*new_allocation + (1.0-allocation_fraction)*previous_desired_allocation);
+        const float decay_time = 5*60.0f; // previous desired allocation expires over 5 minutes
+        float decay_factor = (decay_time <= time_since_previous_collection_secs) ?
+                                0 :
+                                ((decay_time - time_since_previous_collection_secs) / decay_time);
+        float previous_allocation_factor = (1.0f - allocation_fraction) * decay_factor;
+        dprintf (2, ("allocation fraction: %d, decay factor: %d, previous allocation factor: %d",
+            (int)(allocation_fraction*100.0), (int)(decay_factor*100.0), (int)(previous_allocation_factor*100.0)));
+        new_allocation = (size_t)((1.0 - previous_allocation_factor)*new_allocation + previous_allocation_factor * previous_desired_allocation);
     }
-#if 0
-    size_t smoothing = 3; // exponential smoothing factor
-    if (smoothing  > collection_count)
-        smoothing  = collection_count;
-    new_allocation = new_allocation / smoothing + ((previous_desired_allocation / smoothing) * (smoothing-1));
-#else
-    UNREFERENCED_PARAMETER(collection_count);
-#endif //0
     return new_allocation;
 }
 
@@ -36778,6 +36778,7 @@ size_t gc_heap::desired_new_allocation (dynamic_data* dd,
         float     f = 0;
         size_t    max_size = dd_max_size (dd);
         size_t    new_allocation = 0;
+        float     time_since_previous_collection_secs = (dd_time_clock (dd) - dd_previous_time_clock (dd))*1e-6f;
         float allocation_fraction = (float) (dd_desired_allocation (dd) - dd_gc_new_allocation (dd)) / (float) (dd_desired_allocation (dd));
 
         if (gen_number >= max_generation)
@@ -36804,7 +36805,7 @@ size_t gc_heap::desired_new_allocation (dynamic_data* dd,
                 new_allocation  =  max((new_size - current_size), min_gc_size);
 
                 new_allocation = linear_allocation_model (allocation_fraction, new_allocation,
-                                                          dd_desired_allocation (dd), dd_collection_count (dd));
+                                                          dd_desired_allocation (dd), time_since_previous_collection_secs);
 
                 if (
 #ifdef BGC_SERVO_TUNING
@@ -36856,7 +36857,7 @@ size_t gc_heap::desired_new_allocation (dynamic_data* dd,
                                       max ((current_size/4), min_gc_size));
 
                 new_allocation = linear_allocation_model (allocation_fraction, new_allocation,
-                                                          dd_desired_allocation (dd), dd_collection_count (dd));
+                                                          dd_desired_allocation (dd), time_since_previous_collection_secs);
 
             }
         }
@@ -36868,7 +36869,7 @@ size_t gc_heap::desired_new_allocation (dynamic_data* dd,
             new_allocation = (size_t) min (max ((f * (survivors)), min_gc_size), max_size);
 
             new_allocation = linear_allocation_model (allocation_fraction, new_allocation,
-                                                      dd_desired_allocation (dd), dd_collection_count (dd));
+                                                      dd_desired_allocation (dd), time_since_previous_collection_secs);
 
             if (gen_number == 0)
             {
diff --git a/src/coreclr/gc/gcpriv.h b/src/coreclr/gc/gcpriv.h
index d3f3526925d9b0..bcdc0131c19e77 100644
--- a/src/coreclr/gc/gcpriv.h
+++ b/src/coreclr/gc/gcpriv.h
@@ -885,6 +885,7 @@ class dynamic_data
     size_t    fragmentation;    //fragmentation when we don't compact
     size_t    gc_clock;         //gc# when last GC happened
     uint64_t  time_clock;       //time when last gc started
+    uint64_t  previous_time_clock; // time when previous gc started
     size_t    gc_elapsed_time;  // Time it took for the gc to complete
     float     gc_speed;         //  speed in bytes/msec for the gc to complete
 
@@ -5004,6 +5005,12 @@ uint64_t& dd_time_clock (dynamic_data* inst)
 {
   return inst->time_clock;
 }
+inline
+uint64_t& dd_previous_time_clock (dynamic_data* inst)
+{
+    return inst->previous_time_clock;
+}
+
 
 inline
 size_t& dd_gc_clock_interval (dynamic_data* inst)