Senate Approves ‘Honestly Balanced’ Budget
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Indiana Senate has approved a two-year state budget. It includes $200 million per year to fund road projects through the Major Moves 2020 initiative. Senate Committee on Appropriations Chair Luke Kenley (R-20), the architect of the legislation, says it also calls for $466 million in funding for K-12 education, which represents a more than two percent increase. House Bill 1001, also establishes the Healthy Indiana Plan 2.0 and details how it will be funded.
Source: Inside INdiana Business
April 15, 2015
News Release
STATEHOUSE, Ind. – State Sen. Luke Kenley's (R-Noblesville) sponsored legislation, House Bill 1001, passed the Senate today by a vote of 42-8.
HB 1001, commonly called the “budget bill,” is honestly balanced and focused on funding Indiana's most important needs, creating a strong foundation for our economic future. Kenley, who chairs the Senate Committee on Appropriations, said he is pleased with the two-year fiscal plan, which provides increased funding for K-12 and higher education, roads and public safety.
“State leaders made it clear from the start of session that we would put education first on our list of priorities, and that is exactly what this budget does,” Kenley said. “This is a budget that will benefit all Hoosiers. It is balanced and allocates money to the areas of greatest need such as our classrooms, both K-12 and the universities, all while maintaining the reserves that protect Indiana taxpayers.”
Highlights of the budget include:
Education
Increases K-12 funding by $466 million over the biennium (2.3% increase in FY 2016 and a 2.3% increase in FY 2017)
Increases total university operating funds by $220 million over the biennium and provides a one-time funding of $25 million for repair and maintenance at all regional campuses
Balanced Budget
Ongoing revenues exceed ongoing expenditures
Ends biennium with $1.88 billion in reserves
Public Safety and Corrections
Provides community corrections funding of $151 million over the biennium
Increases funding for offender mental health and addiction treatment by $30 million over the biennium
Funds 13 new magistrates in high-need counties
Funds the Larue Carter Mental Health Hospital building plan
Economic Development
$200 million per year for Major Moves 2020 highway projects
Establishes a statewide “Launch Indiana” program for aspiring Hoosier entrepreneurs
Provides $20 million over the biennium for the governor's Regional Cities Initiative
Funds regional economic priorities, including: IU Medical School in Evansville, Hulman Center in Terre Haute, IUPUI Soccer Stadium, Northwest Indiana Regional Development Authority and the Hoosier State Line from Indianapolis to Chicago
HB 1001 will now return to the Indiana House of Representatives for further consideration.
Source: The Office of Senator Luke Kenley