The Good Government bill will use reserves to pay for several one-time capital projects approved by the General Assembly in 2019.
(Indianapolis, Ind.) – Indiana Governor Eric Holcomb has signed the first bill of the 2020 legislative session.
On Wednesday, Holcomb signed House Bill 1007, which uses reserves to pay for several one-time capital projects approved by the General Assembly in 2019.
The Good Government bill will see the state spend approximately $291 million in cash for higher education building projects.
According to Holcomb, paying cash to complete the projects will save Hoosier taxpayers more than $135 million over the next 20 years.
“Indiana’s economy is strong, and that provides us with an opportunity to reduce our ongoing costs by using cash rather than borrowing for several projects previously approved by the General Assembly,” said Holcomb. “By paying off these one-time expenditures, we’re ensuring our state remains the fiscal envy of the nation by saving Hoosier taxpayers more than $135 million in borrowing costs, which in turn frees up money to be spent on other priorities. I want to thank legislative members for getting this priority bill passed and to my desk for signature in short order.”
Oppositions of the now passed bill believe the state’s reserves should be spent on other priorities, including teacher pay.
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