La. overcommitted; projects face review
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State government is over-committed by four times on promises to come up with borrowed money for projects.
There’s $1.46 billion in noncash lines of credit — a designation that puts projects in line for priority funding. But only $350 million in borrowing is available to provide the cash to fund them during the budget year that begins July 1.
Gov. Bobby Jindal’s administration is in the process of analyzing the projects to determine which ones it will recommend advance, which should be put on the backburner, and which should not be reauthorized.
Jindal’s priorities will become clear when his administration submits its state construction program budget after the 2008 Legislature opens its 85-day session March 31, state Office of Facilities Planning and Control Director Jerry Jones said.
The Legislature can then adjust those project priorities, he said.
The situation left by Gov. Kathleen Blanco is irking House Speaker Jim Tucker, R-Terrytown, and House Ways and Means Committee chairman Hunter Greene, R-Baton Rouge.
“We cannot commit to four years worth of advance lines of credit. This Legislature will not have any projects,” Tucker said.
Tucker compared it to “running up of the credit card. It’s out of control.”
“The previous Legislature has in effect tied up the next four years of capital outlay,” Greene said. “There’s a lot of members concerned about them coming in and not having the ability to advance projects they want.
“It’s not just a few (concerned) legislators. There’s a number, especially on the House side,” where about half of the state representatives are newcomers, Greene said.
Greene’s committee oversees state construction spending financed with state borrowing.
Tucker and Greene said they have asked for the list of projects.
Tucker said he wants to know which are under way and are relying on funding from the $1.46 billion commitment to continue.
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