Lt. Gov. Diane Denish issued a statement immediately following the Senate floor debate tonight lamenting the passage of House Bill 3 by the Senate, while stating that it was necessary. House Bill 3 transfers money from various funds and agencies into the general fund and voids the authorization for unspent appropriations. While the bill originally called for slightly more than $108 million to be swept from the funds, the final tally came in at just under $70 million from the college affordability fund and more than a $100 million total.
“The legislature has taken a necessary though painful step of passing House Bill 3 that will sweep cash balances from a variety of funds,” Denish said in the statement. “Difficult though this decision may be, the fact that it is distributed over many different programs and funds is a fair approach to achieving critically needed reductions.”
“Our highly successful Pre-K program that I have long championed will lose more than one million dollars, but, as I’ve said all along these painful cuts must be shared by all. It is my hope that in the future some of these funds could be restored.”
This post has been updated to correct the total amount swept.