The compromise 2023–25 capital budget deal was released today, and the House has already passed the proposed compromise (ESSB 5200 and SHB 1148).

SHB 1148, the bond bill, would authorize $4.186 billion in general obligation bonds. The compromise does not include the housing bond referendum proposed by Gov. Inslee.

Nevertheless, the compromise proposal would appropriate $8.665 billion from all funds—higher than the appropriations in the earlier proposals from either the Senate or the House. (I compared the Senate and House proposals here and here. See those posts for more on the underlying details.) That level of appropriations would be 10.9% higher than in 2021–23. However, the 2021–23 capital budget was historically large, thanks to unusually high federal funds and an unusual transfer from the operating budget. The compromise appropriations would be 71.6% higher than capital appropriations in 2019–21.

Appropriations from the proceeds of bonds would be about the same in the compromise as had been proposed in the Senate and House. The increase in appropriations in the compromise comes mainly from the common school construction account, climate commitment account, natural climate solutions account, and federal funds.

Chart 2 shows where the appropriations would be spent. In the Department of Commerce, the compromise would appropriate much more than the earlier proposals on local and community projects and broadband.

In public schools, the compromise would fund both the capital assistance to small school districts program (HB 1044), which had been in the House proposal, and the distressed schools program, which had been in the Senate proposal.