Budget Highlightshighlights
ProposedProposed 20072007--0909 BiennialBiennial CapitalCapital BudgetBudget & 2007 Supplemental BudgetBudget HighlightsHighlights MarchMarchMarch 19,19,19, 200720072007 RepresentativeRepresentativeRepresentative Fromhold,Fromhold,Fromhold, ChairChairChair HouseHouseHouse CapitalCapitalCapital BudgetBudgetBudget CommitteeCommitteeCommittee 2 2007-09 Capital Budget House Capital Budget Chair Proposal New Appropriations (Dollars in Thousands) State Bonds Total Funds 2005-07 Biennial Capital Budget (1) Total Appropriations 1,705,506 3,563,930 2007 Supplemental Capital Budget New Appropriations 5,646 3,146 Total Revised 2005-07 Capital Budget 1,711,152 3,567,076 2007-09 Biennial Capital Budget Total Appropriations 2,107,139 4,231,470 Bond Capacity Adjustments -4,292 -4,292 Total 2007-09 Capital Budget 2,102,847 4,227,178 State Bond Appropriations in Other Legislation 2,150 Total 2007-09 Bond Appropriations 2,104,997 Debt Limit Bond Appropriations ($ Millions) 2001-03 2003-05 2005-07 (2) 2007-09 (3) Regular State Bonds $ 970 $ 1,211 $ 1,458 $ 1,851 Gardner-Evans Higher Education Bonds 0 287 243 219 Columbia River Water Supply Bonds 0 0 10 35 Total Debt Limit Bonds $ 970 $ 1,498 $ 1,711 $ 2,105 (1) Chapter 488, Laws of 2005, Partial Veto (ESSB 6094) and Chapter 371, Laws of 2006, Partial Veto (ESSB 6384). (2) Revised to include 2007 Supplemental Capital Budget Chair proposal. (3) 2007-09 Capital Budget Chair Proposal. Office of Program Research 3 March 19, 2007 4 2007-09 CAPITAL BUDGET HIGHLIGHTS DEBT LIMIT CONSIDERATIONS Overview of Bond Capacity Washington State has a statutory and constitutional debt limit. The state cannot issue any bonds in which the debt service on these bonds, when added to the debt service on existing bonds, would exceed 7 percent of a three-year average of general state revenues under the statutory limitation and 9 percent under the constitutional limit.
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