Gov. Eric Holcomb signed legislation Wednesday that spends $291 million to pay cash for higher education building projects.
It’s the first bill signed into law this year.
Indiana finished the last budget cycle with nearly $300 million more than it expected. Republicans this session decided to spend that money paying cash for higher ed capital projects they had already approved.
In a statement, Holcomb points out doing so – instead of bonding those projects – will save the state more than $135 million over the next 20 years.
But Democrats said for weeks the money should be spent on other priorities. Chief among them, they say, is teacher pay.