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DE SB160
Bill
Status
7/1/2015
Primary Sponsor
David Sokola
Click for details
AI Summary
SB 160 Summary
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Authorizes issuance of $196,960,000 in general obligation bonds and $30,109,100 in local share school bonds for fiscal year 2016 capital improvements.
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Appropriates $127,307,770 from the Transportation Trust Fund for road system ($69,334,418), transit system ($22,761,997), and support system ($35,211,355) projects.
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Authorizes $25,800,000 in bond premium funds for various capital projects including technology systems, facility upgrades, and equipment replacement across multiple state agencies.
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Appropriates $15,042,800 from Standard & Poor's settlement funds to Office of Management and Budget, Delaware Economic Development Office, Health and Social Services, and Natural Resources and Environmental Control.
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Authorizes reauthorization and reprogramming of unexpended balances from prior fiscal years and specifies that unencumbered project balances must revert or be reauthorized by June 30, 2018.
Legislative Description
A Bond And Capital Improvements Act Of The State Of Delaware And Certain Of Its Authorities For The Fiscal Year Ending June 30, 2016; Authorizing The Issuance Of General Obligation Bonds Of The State; Appropriating Funds From The Transportation Trust Fund; Authorizing The Issuance Of Revenue Bonds Of The Delaware Transportation Authority; Appropriating Special Funds Of The Delaware Transportation Authority; Appropriating Special Funds Of The State; Reverting And Reprogramming Certain Funds Of The State; Directing The Deposit Of Certain Funds To The General Fund; Specifying Certain Procedures, Conditions And Limitations For The Expenditure Of Such Funds; And Amending Certain Statutory Provisions.
Last Action
SS 1 for SB 160 - Passed by House of Representatives. Votes: Passed 40 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
7/1/2015