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Assembly enacts $23.5 billion capital plan with $1 billion sustainable‑futures fund and modest CHIPS boost
Summary
The capital appropriation bill passed with allocations for transportation, parks, housing, and a new $1 billion sustainable‑futures program. Members pressed for larger CHIPS/local‑road allocations and questioned use of bond finance for some climate investments.
The Assembly approved a capital projects bill authorizing approximately $23.5 billion in appropriations and an estimated $21.4 billion fiscal‑year spending plan. The sponsor characterized the bill as a multiyear investment across transportation, economic development, education, environmental protection and water infrastructure.
Key elements include $6.2 billion for transportation, a $3.7 billion parks and environment allocation, and a new Sustainable Futures program that combines previous reappropriations with an added $1 billion in bonded capital for climate mitigation, renewable energy, zero‑emission transportation and resilience projects. Sponsor and members debated the appropriate balance between borrowing for climate and increasing CHIPS/local roads investment; the transcript records calls for larger CHIPS increases to address local road deterioration and inflationary construction costs.
The bill also adds funding targeted at water infrastructure for housing expansion and a $175 million allocation to support housing‑related water hookups. Floor speakers praised local project wins in their districts — from library and brownfield credits to regional resiliency projects — while others warned the CHIPS increment ($50 million) is insufficient compared with need.
The capital bill passed (roll calls recorded on the floor) and authorizes new debt of about $11.4 billion for the year, according to the sponsor.
