The Governor’s line-item vetoes of the bonding bill is the subject of much discussion at the Capitol and around the water cooler this week (at least in our office!). Here are some links that may be helpful for those wondering what was in the bill and what the Governor vetoed.
- On the Governor’s web page, there are links to the list of line-item vetoes, his veto letter (which describes the Governor’s reasons for the vetoes), and related press conference and podcast.
- The bonding bill is HF 380. House Fiscal Analysis has already updated their handy spreadsheet so that it now compares the Governor’s original bonding request, House bonding bill, Senate bonding bill, the bonding bill that was sent to the Governor, and how it stands after the line-item vetoes.
Is this really is the end of the bonding story for this session? The guideline used by policymakers is that the state’s debt service should not exceed 3% of the budget. Governor Pawlenty notes that means a limit on new bonding projects of $885 million, including both the bonding bill and the $60 million in bonding contained in the transportation bill passed earlier this session. The Governor’s line-item vetoes bring total bonding down to $777 million…which seems to leave open the possibility of additional action on bonding yet this session.