The programs and agencies of state government are funded on a two-year basis, with each fiscal biennium beginning on July 1st of odd-numbered years. The capital budget generally includes appropriations for acquiring, constructing, and repairing capital assets such as land, buildings, and other infrastructure improvements. Funding for the capital budget is primarily from state general obligation bonds, with other funding derived from various dedicated taxes, fees, and state trust land revenues.
The bill as referred to committee not considered.
The budget authorizes $6.234 billion in new capital projects for the 2021-23 fiscal biennium; of this total, $3.928 billion is financed with state general obligation bonds. Also included is $234 million in authorizations for agencies and higher education institutions to enter into alternative financing contracts. Additionally, $4.535 billion in funding for capital projects authorized in prior biennia is reappropriated.
This is the Chair/Ranking member proposal for the 2021 supplemental budget for the 2019-21 biennium and the 2021-23 biennium. Supporting documents prepared by the staff of the Senate Ways & Means Committee may be found at http://leap.leg.wa.gov/leap/budget/detail/2021/sc2123Bien.asp.