Governor Rick Snyder and top leaders in the Legislature agreed last week on the budget targets for the 2018-19 fiscal year. The agreement sets out funding levels for all departments and major budget areas. The state departments now will begin discussion to work out compromises on specific spending items to work out any discrepancies between the House and Senate version of the budget bills.
Among the major components of the agreement:
- An increase of over $400 million for infrastructure: $330 million for roads and the rest for other infrastructure;
- A $115 million deposit to the Budget Stabilization Fund, which will boost it to more than $1 billion;
- $58 million in new funding for school safety initiatives like grants to schools, the OK2Say hotline program and school counselors;
- Full funding of the $100 million for the state’s workforce training and education program; and
- The increase to K-12 schools of $120 to $240 per pupil based on the 2X formula.