Dive Brief:
- Lousiana Gov. Bobby Jindal's $5.7 billion, multi-year construction budget continues to make its way through the state Legislature after receiving the House Ways and Means Committee's approval.
- The budget originally proposed by the Governor contained projects that would exceed the state's spending limit of $355 million for the next fiscal year by $120 million.
- After the House Ways and Means Committee took out money earmarked for roof and building improvements and for funds used to bring in projects from out-of-state, the budget is still $18 million over the limit, according to Committee Chairman Joel Robideaux.
Dive Insight:
As a result of the spending cap, the Jindal administration will still have to pick-and-choose which projects it wants to receive lines of credit. Despite these needed cuts, the budget could still be a boost to certain parts of the construction business in Lousiana.