During its decision meeting yesterday, the Senate Budget and Taxation Capital Budget Subcommittee voted to increase general obligation bonds for Local Program Open Space by $8.1 million, instead of the $15.6 million approved by the House. The $8.1 million is intended to backfill the amount in unencumbered fund balance used to assist with balancing the FY 2015 budget.
The Senate Subcommittee did not approve the additional $7.45 million allocation provided by the House to bring the funding level up to 75% of the replacement funding for FY 2016 as specified during the 2014 session. This difference will need to be resolved by a House and Senate conference committee.
In other capital budget decisions, the Subcommittee approved House actions to authorize the use of $20 million in bond premiums to provide grants for public school capital improvements for school systems with significant enrollment growth or relocatable classrooms. Baltimore, Anne Arundel, Howard, Montgomery, and Prince George’s Counties would be eligible for grants under the program.
For information on capital budget decisions, see these previous posts on Conduit Street.