DE Lawmakers fast-track bond authority for community college

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DE Lawmakers fast-track bond authority for community college

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DOVER, Del. (AP) — After putting the brakes on controversial legislation to impose a statewide property tax to benefit Delaware's community college system, Democratic lawmakers are trying to ram through an alternative plan to achieve the same goal through the legislative budget process.


The proposal was unveiled Wednesday and scheduled for a Senate floor vote Thursday, without a committee hearing.


The bill gives trustees of Delaware Technical and Community College the authority to issue bonds to finance capital improvements, land acquisition, equipment and educational technology.

The bonds would be paid off by a new infrastructure fund bankrolled not by an unprecedented statewide property tax, but by an annual earmark from the legislature's capital budget committee.

The new line item would equal 10 percent of capital funding for public schools in the prior year's budget.

 

Source: AP