Posted: Jun 21, 2010 8:56 PM by Chris Welty
Updated: Jun 21, 2010 8:56 PM
BATON ROUGE, La. (AP) - The state's annual construction budget
bill, which details $4.7 billion in multiyear spending plans,
received final passage before lawmakers ended their regular
Louisiana has a cap on annual borrowing that will limit spending
on construction projects to an estimated $320 million in the
2010-11 year that begins July 1. That money will cover ongoing
projects, items given lines of credit in previous years and new
Rep. Hunter Greene, chairman of the House Ways and Means
Committee, says lawmakers structured the bill to meet the limit,
but not go over it.
The "capital outlay" bill includes mostly projects approved in
past years by lawmakers that already are in line for borrowing
dollars and those that have direct streams of cash funding, like
road and bridge repairs.