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DE SB50
Bill
Status
1/28/2021
Primary Sponsor
David Sokola
Click for details
AI Summary
SB50 - Fiscal Year 2022 Bond and Capital Improvements Act
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Authorizes $237.7 million in general obligation bonds and $26.7 million in Delaware Transportation Authority revenue bonds to fund capital improvement projects across state agencies and authorities.
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Appropriates $260.5 million in general funds and $377.1 million from the Transportation Trust Fund for capital projects including education facilities ($129.6 million), transportation infrastructure ($377.1 million), and various state agency improvements.
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Authorizes the issuance of GARVEE bonds (up to $200 million) for I-95 rehabilitation, to be repaid with federal highway obligational authority over a 15-year amortization schedule.
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Establishes procedures and conditions for capital project management, including quarterly reporting requirements, construction oversight mechanisms, and an Appeals Board to approve use of unencumbered funds after project completion.
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Total fiscal year 2022 capital authorization of $894.4 million, with major allocations for school construction ($129.6 million), Kent and Sussex Family Court facilities ($50 million), and City of Wilmington education initiatives ($70 million).
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, 2022; 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 General Funds Of The State; Reprogramming Certain Funds Of The State; Specifying Certain Procedures, Conditions And Limitations For The Expenditure Of Such Funds; And Amending Certain Statutory Provisions.
Last Action
Introduced and Assigned to Capital Improvement Committee in Senate
1/28/2021