For more information contact: Catherine Thompson 651-296-5499
ST.PAUL – The 2013 Omnibus Bonding bill (HF270), estimated to create 22,800 jobs, was unveiled in the House Capital Investment Committee today. The bill allocates $800 million in general obligation bonds for statewide infrastructure improvements and invests in higher education, transportation, housing, economic development, clean water and wastewater systems.
“As Minnesota’s economy continues to recover, this bill will go a long way to helping put people to work while improving and preserving our critical statewide infrastructure repairs,” said Rep. Alice Hausman, chair of Capital Investment. “Many of these projects are shovel and paint-ready and can be started almost immediately.”
At a time when interest rates are at a record low, this borrowing bill will allow the state to stretch taxpayer dollars.
Some of the highlights of the Capital Investment Bill:
Using the Associated General Contractors of America formula, it is estimated that 22,800 permanent, temporary and spin-off jobs will be created, giving a shot in the arm to our recovering economy.
“We have an obligation to preserve our important infrastructure in this state,” said Rep. Hausman. “This bill is regionally balanced, will create jobs and help push us out of recession.”
The bill is being detailed today in committee and will be debated and voted on at the committee hearing on Thursday.
Link to the bill:
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