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Committee reduces SIF grant-and-loan proposal to $15M grants and $40M loans, advances bill
Summary
Committee members amended bill 2188 to replace larger SIF appropriations with a $15 million grant placeholder and $40 million for loan capital, and advanced the bill.
The Appropriations — Education and Environment Division amended bill 2188 to reduce the State Investment Fund (SIF) amounts shown in the draft and advanced the bill to move forward with the smaller placeholder totals.
Committee discussion described the version of the bill before members as showing $130,000,000 in SIF dollars (roughly $30,000,000 for grants and $100,000,000 for loan capital). A committee member proposed, after consultation with leadership, to amend those figures to $15,000,000 for grants and $40,000,000 for loans as a placeholder in this budget cycle; the motion was made and seconded and carried. Members characterized the revised numbers as a placeholder that could be adjusted later in the session.
The sponsor told the committee the original 130,000,000 figure had appeared in prior sessions and that the smaller numbers were intended to keep the bill moving while budget negotiations continue. Committee members emphasized the change was not intended as the final figure; several said further adjustments could occur in later budget negotiations.
The committee polled and recorded unanimous support for the amendment and then voted to approve the bill as amended; the committee chair indicated he would carry the bill forward to the next stage.
What happens next: the bill will move forward from the committee with the amended $15M grant and $40M loan placeholders; amendments and final funding totals may change in subsequent budget negotiations.
