Gov. John Carney on July 1 signed into law an $862.9 million bond bill.
The omnibus measure is a $46.6 million increase over the capital spending plan it replaced, a reflection of the state's revenue surplus and a desire by the governor and lawmakers to use a portion of the excess for one-time spending on construction projects.
The bill includes $154.1 million for school construction and $425.3 million for the Transportation Trust Fund, which finances road and bridge projects throughout the state. The fiscal 2020 measure also contains money to protect drinking water, improve overall water quality, renovate libraries and museums and conduct shoreline restoration and dredging operations.
A $55 million Grants-in-Aid Bill was also enacted July 1. The measure will issue state grants to hundreds of non-profit organizations performing work benefiting Delawareans, including $6.93 million supporting volunteer fire companies and more than $8 million to assist senior centers. The fiscal 2020 GIA appropriation is a 5.57% increase over the previous bill.
A reported $125 million of the state's revenue surplus was set aside by budget writers as a hedge to deal with future shortfalls. The state's financial forecasts predict revenue growth in the new fiscal year that began July 1 will slow to 0.7%, before rebounding to 1.5% in fiscal 2021.