No objections. No line-item vetoes.
Gov. Pete Ricketts has signed into law the bills making up the $8.6 billion state budget for the next two years.
Ricketts says the budget achieves the goals he set out earlier this year: keep the growth of state spending around 3% and provide more money for property tax relief.
Ricketts says he’s especially pleased with the additional $60 million added to the state property tax credit relief fund and then an additional $8 million once the forecast board increased the state revenue estimated to come in the next two years.
“So, if you look at this budget what you will see is over the biennium an additional $408 million going to property tax relief,” Ricketts tells reporters during a news conference.
Yet, the legislature failed to move on one of Ricketts’ key proposals: lowering the percentage at which agricultural land is assessed from the current 75% of market value to 65%.
Ricketts says that would have provided structural property tax change.
“It also would have required us putting an additional $30 million a year into the school aid formula. So, you have to have both there,” according to Ricketts. “That’s what I said, we have more work to do.”
Ricketts made no line-item vetoes to the budget.
AUDIO: Brent Martin reports [:45]