The Minnesota House passed a $1 billion borrowing bill Thursday, a measure with funding for a wide range of projects, including construction at the state's universities, light-rail transit in the Twin Cities, and Duluth Convention Center remodeling.
The 99-34 vote, more than the three-fifths majority required for a bonding bill, sets the stage for a conference committee to reconcile differences with a Senate bill that passed earlier this week. Rep. Alice Hausman, DFL-St. Paul, the lead House negotiator, pledged to work swiftly to present a bill to Gov. Tim Pawlenty, possibly as soon as late next week.
"We take very seriously the right to be fiscally responsible in our borrowing," Hausman said.
The bonding bill, the traditional mechanism for bricks-and-mortar construction of state projects, also is being presented by supporters as a job-stimulation bill.
It's likely that the final bill will have to come in at $825 million or less to be acceptable to Pawlenty. That amount is 3 percent of projected general fund revenue, a limit that makes the debt more acceptable to bonding houses.
Even as the House was debating, Pawlenty released a letter to House and Senate leaders raising concerns that their bills exceed the 3 percent ceiling.
"The generous amount allowed by the cap should be more than sufficient to create a compromise bill that is also fiscally responsible," Pawlenty warned.
Sticking point: Como Zoo
