The House Taxation and Revenue Committee tried but failed minutes ago to bring back up a capital outlay bill viewed as key to state budget negotiations. The House committee amended SB 182 late Tuesday and then tabled it. Committee Chairman Edward Sandoval, D-Albuquerque, had hoped to re-consider the bill and pass it out, but an eight-to-eight vote kept the legislation tabled.
Visibly upset, Sandoval threw his pencil down on his desk.
Two Democrats joined six Republicans to keep the legislation on the table.
The bill would claw back money for stalled capital outlay projects, something that many legislators are hesitant to do, despite the money that could be diverted to shoring up the state’s bank account.
House Speaker Ben Lujan, D-Santa Fe, who also sits on the committee, leaned over to Sandoval and stage whispered to recess the House Taxation and Revenue meeting with the possibility of meeting again today subject to the call of the chair.
Lujan then walked out.
The capital outlay bill, SB 182, is viewed as key to state budget talks, which are occurring between House and Senate Democratic leaders.
The capital outlay bill is meant to sweep $130 million in state money from more than 1,500 brick-and-mortar projects around the state to help beef up the state’s nearly-depleted reserves, or rainy-day fund.
Legislative leaders have failed to reach a state budget deal with less than 24 hours to go in the session.
So they have agreed that the state capital legislation must pass before Thursday at noon to prop up the state’s reserves so the state doesn’t start writing hot checks.
But if the bill remains bottled up in House Taxation and Revenue for much longer, the chances of it passing diminish.