Proposed DE community college bonding authority hits roadblock

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Proposed DE community college bonding authority hits roadblock

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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 had to apply the brakes again after trying to ram through an alternative plan to achieve the same goal through the legislative budget process.

The Senate was scheduled to vote on the plan Thursday, just one day after it was introduced, but declined to do so.

The bill allows Delaware Technical and Community College to issue bonds to finance capital improvements.

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 public school capital funding in the prior year's budget.

 

 

Source: AP


 

 


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