Posted: May 29, 2014 3:54 PM
Source: Associated Press
BATON ROUGE - Senators have sent the House a more than $5.9 billion, multiyear state construction budget plumped up with so many Senate add-ons that it contains $400 million more in projects than the state can afford.
Louisiana has a cap on annual borrowing that limits spending on construction projects to $355 million in the fiscal year that begins July 1.
The House version of the bill was overcommitted by about $20 million. By the time the Senate version was done, it included $400 million more in projects than the state has money to spend.
That would leave the governor's office to determine which projects get money.
The House can either accept the Senate add-ons or send the budget bill to a six-member legislative committee to work out a final version.