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Ohio Senate Approves $1.36 Billion in Debt for Capital Projects

March 28 (Bloomberg) -- The Ohio Senate approved $1.74 billion for capital projects, a measure that will authorize $1.36 billion in bonds backed by the General Revenue Fund.

The House of Representatives approved the bill March 22. The measure, which will pay for school and infrastructure construction, will go to Governor John Kasich for his signature after the House approves a Senate amendment, Angela Meleca, a spokeswoman for Senate Republicans, said in a telephone interview.

Kasich proposed the measure for spending in fiscal 2013-14 as part of a “Mid-Biennium Review” halfway through Ohio’s two-year budget, with policy proposals in areas including taxes, energy and education. It is the smallest capital budget in Ohio in at least a decade, Dave Pagnard, a spokesman for the Office of Budget and Management, said in a telephone interview.

The governor said he asked the state’s 37 public university and college presidents to agree on a plan for $400 million in capital projects.

The bill passed today also includes $675 million for primary and secondary school construction and $300 million for local infrastructure projects, according to administration documents.

To contact the editor responsible for this story: Mark Tannenbaum at mtannen@bloomberg.net

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