That is the amount of money
that a four-bill borrowing package would have approved to pay down the state’s
mounting backlog of debt. The money would pay back debt from state contracts with vendors, health care
providers and schools, and also pays down corporate tax refunds owed to businesses.
The four bills sponsored by Sen. John
Sullivan (D-Rushville) were approved this week by the Senate Executive
Committee -- along a party-line vote of 9 to 6. SB 342 would pay back
$1.5 billion to state vendors, non-government organizations and
businesses with state contracts. SB 343 would pay back $1.1 billion to
heath care providers for the state’s own group health insurance. SB 344
would pay back $800 million to businesses who are owed corporate tax
refunds. SB 345 would pay schools (including public districts,
community colleges and universities) a total of $2.7 billion. SB 342 failed by a vote of 19 to 23 over the holiday weekend.
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