House Speaker Open To Senate Revenue Generating Proposal

A change in the plan to help the current state budget crunch and the future one gets a favorable response from House Speaker Catherine Hanaway. Hanaway says she is less concerned about the financial mechanism used than in limiting how much can be used to ease the current fiscal year and how much would be held in reserve for next year. And she says she’s intrigued by the prospect of saving $200-Million over the life of the bonds by switching from tobacco bonds to revenue bonds. Hanaway expects the House to approve the change if the Senate follows through. She says the new proposal still limits proceeds for use in the current fiscal year to $150-Million, leaving the balance for next year.