Higher Education Bond Issue Approved by Committee

The $500 million Higher Education Bond Issue cleared another legislative hurdle today, passing out of the Appropriations Committee with a bi-partisan unanimous 46-0 vote.

“Today’s vote puts us a step closer to making a critical investment in education that will make a better tomorrow for our children,” Appropriations Chairman Mike Morgan said. “We anticipate a vote on the Senate Floor as early as next week.”

Morgan, D-Stillwater, said swift action is needed on the bill in order to save money on low interest rates and avoid rising construction costs.

“The Senate is working diligently to get this bill to the House and we hope they will follow suit and take quick action so these construction projects can begin,” the Senator said.

The Higher Education Bond Issue includes $500 million for capital improvement projects for colleges and universities throughout the state. The project is expected to create 4000 construction jobs and have an initial economic impact of more than $737 million.“This is the biggest boost to economic development this state has seen in more than a decade,” Morgan said. “I am pleased the Senate worked in a bi-partisan fashion to get this issue out of committee and onto the Senate floor for a vote.”

“Passing this measure will not only build better classrooms and expand learning opportunities across the state it allows us to continue our work to build a better tomorrow for our children.” Morgan concluded.