LANSING, MI (WTVB) - Governor Snyder has reached an agreement with legislative leaders how to spend almost a half a billion dollars in unexpected tax revenue that appeared in the most recent revenue estimates. The extra cash came from higher than expected income and business taxes. 350-million dollars will be spent on improving the state’s roads. $150-million will be spent on direct aid to public schools. $75-million will go into the state’s rainy day fund.
The deal also calls for $65-millon for the Governor’s early Childhood Education initiative, and funding for the Healthy Kids Dental Program, to provide dental care for low-income children.
It’s not a done deal. Speaker of the House Representative Jace Bolger and Senate Majority Leader Senator Randy Richardville still have to get the rest of the legislature to go along, and their goal is to get it done by June 1st, to give schools time to budget the extra cash. Their budgets are due on July 1st.