Table of Contents
Gov. Tony Evers signed legislation enacting the 2023-2025 biennial budget last week. We’re breaking it down, highlighting a few major points, in 150 words.
Terms
- Reimbursement rate: Tax-deductible value
- GPR: General purpose revenue
- Innovation grants: Financial backing for research + development
- Revolving loan: Funds remain available to finance operations without fiscal year limitation. Think: Line of credit.
K-12
- $30 million — school-based mental health services
- $97 million GPR — achieve a yearly 33.3% special ed. reimbursement rate
- $50 million — improve reading and literacy
Affordable housing
- $1 billion — new limit on notes + bonds that WHEDA can issue to finance projects
- $275 million — Residential Housing Infrastructure Revolving Loan Fund
- $1 million GPR — yearly Homelessness Prevention Program funds
Infrastructure
- $555.5 million — transportation projects
- $300 million — innovation grants
- $100 million — Local Roads Improvement Program
Environment/Agriculture
- $125 million — address PFAS contamination
- $1.6 million — Meat Processor Grant program
- $100,000 GPR — yearly mental health assistance to farm families
