Following Friday’s 2015-17 budget proposal from the House Appropriations chair, today the Senate Ways and Means Committee chair made his proposal. Under the proposal, 2015-17 near general fund-state plus opportunity pathways (NGFS+) spending would total $38.0 billion. (This is about $1.0 billion less than in the House proposal.)

Some policy highlights:

• $1.3 billion for basic education
• Resident undergraduate tuition would be reduced
• Assumes that the collective bargaining agreements that were reached by the governor and the state’s collective bargaining units will be rejected by the Legislature (the Legislature must either approve or reject the agreements, but not amend them)
• $113 million for state employee compensation
• $117 million for higher education employee compensation

Like the House Appropriations proposal, the Senate W&M proposal would not fund I-1351 class size reductions beyond grades K-3. (This change would be referred to voters.) At the press conference announcing the proposal, Sen. Andy Hill said that everyone receiving benefits today will continue to get benefits under this proposal.

On revenues, the proposal would redirect funds from the excise tax on marijuana to the education legacy trust account ($296 million). It would make $375 million in transfers to the general fund. Revenue legislation includes a high technology research and development B&O tax credit and sales and use deferral. Unlike the House proposal, the Senate W&M proposal does not increase taxes.