SB 1501 Summary

• Authorizes $366.4 million in state bonds (effective July 1, 2015) for capital improvements across state agencies including information technology, infrastructure repairs, building renovations, and equipment purchases.

• Authorizes $135 million in bonds (effective July 1, 2015) for Department of Housing programs including housing development, rehabilitation, and assistance for homeless persons and low-income housing.

• Authorizes $398.6 million in bonds (effective July 1, 2015) for grants-in-aid to municipalities, nonprofits, and other entities for school building improvements, environmental protection, economic development, transportation, and library construction.

• Authorizes $340.9 million in bonds (effective July 1, 2016) for capital improvements to state facilities, higher education institutions, vocational schools, and corrections facilities.

• Authorizes $2.8 billion in special tax obligation bonds for Department of Transportation projects including highway improvements, rail service expansion, and transit infrastructure development across multiple fiscal years.