Fiscal Year 2014 Executive Budget Recommendations Presented

Michigan Governor Rick Snyder presented his fiscal year 2014 budget recommendations Thursday to a joint hearing of the House and Senate Appropriations Committees. The overall spending package calls for a roughly 5.2 percent increase over the 2013 fiscal year budget, to a total of $50.1 billion.

The entire budget presentation is available online here.

The budget growth is due largely to the Governor’s $1.2 billion revenue enhancement package for transportation and infrastructure funding and a recently announced Medicaid expansion.

Significant highlights of the Governor’s budget recommendations include:

$727.7 million in new revenue from a gas tax increase (moving to a wholesale gas tax formula, representing an effective 14 cents per gallon increase)
$508.3 million in new revenue from increase vehicle registration fees (60 percent increase for automobiles, 25 percent increase for trucks and trailers)
$11.8 million in new revenue from Department of Natural Resources (DNR) fee increases
$11.6 million for the Healthy Kids Dental Program, expanding to 3 new counties
A 2 percent increase in K-12 education to $13.2 billion
$65 million increase to the Great Start Readiness Program for early childhood education
A total of $21 million for dredging the State’s waterways
Increase to the Pure Michigan campaign of $4 million to $29 million total
$75 million to the Budget Stabilization Fund (“Rainy Day Fund)
A range of 1.3 to 2.2 percent increases for the 28 community colleges
A range of .2 to 5.1 percent increases for the 15 public universities

posted by PAA Online , Friday, February 8, 2013 10:14 AM
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