Treasurer’s office explains $14 million borrowing for flood recovery, proposes medical debt relief and climate uses for remaining funds

Ashlyn Doyon, director of policy at the Treasurer’s Office, told the Senate Appropriations Committee on Feb. 4 that the treasurer’s office originally received a $20 million one‑time appropriation in 2022 to consider buying down outstanding general obligation bonds, but the office “elected not to buy down bonds at that time” after market and cash‑management analysis.

Doyon said the administration subsequently borrowed $14,000,000 of that appropriation for flood recovery and that the emergency board directed the administration to present a plan to repay that amount in the governor’s Budget Adjustment Act. The BAA therefore includes language returning the $14 million to the treasurer’s account, Doyon said.

Treasurer’s office proposals for the remaining funds: Doyon described options the office has been exploring for the remainder of the original $20 million appropriation (roughly $6 million still available). She…