Walz Proposes $518 Million Capital Investment Package

Gov. Tim Walz has proposed a $518 million capital investment package that includes 150 million for rebuilding neighborhoods hit by unrest after the death of George Floyd last May. It also includes $43 million in security upgrades for the state Capitol complex, which has been ringed by fencing since last summer’s protests.

His proposal includes $490 million in borrowing plus $28 million in cash out of the state’s general fund. It’s much smaller than a $1.9 billion package, the largest in state history, that lawmakers passed in October.

But the legislature usually passes its big bonding bills in even-numbered years. The budget is the top priority in odd-numbered years like this one, and budget commissioner Jim Schowalter said the size is “right on track” with bonding bills approved in previous budget sessions.