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Senate bill to expand prison bonding authority advances amid cost-overrun questions
Summary
Senate Bill 60 would increase the state's bonding authority for prison construction to allow completion of replacement facilities after cost increases; the committee issued a favorable report following discussion of cost drivers and borrowing options.
Senate Bill 60, presented by Senator Albritton, would expand the state's bonding authority related to correctional facility construction to allow completion of projects authorized in 2021 after construction cost increases.
Senator Albritton told the committee the state originally authorized $785 million in 2021 to build two replacement prisons. When the project went to market this July the state sold $500 million in bonds and has used additional…
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