The FY17 budget is headed to conference committee.
The Georgia Senate approved a record $23.7 billion budget Thursday by a resounding 53-2 vote, and sent it back to the House. But State Representatives disagreed with the Senate version, setting up late-session negotiations.
House Bill 751, which sets the budget for the next fiscal year, has to be approved by the end of the session, which is looming in two weeks.
The House passed its version of the bill last month.
The proposed budget, which takes effect July 1, includes nearly $9 billion in funding for K-12 public education, and provides funding for a 3 percent raise to most of the state’s 200,000 teachers and state employees.
Workers in four state agencies that have experienced high turnover rates will receive a higher boost in pay. The Senate also approved 3 percent raises for school nurses, bus drivers and nutritionists.
If approved, a large percentage of state retirees could also see a one-time 3 percent pay bonus.
This version of the budget also includes more than $1 billion in new roads and bridges projects — much of the funding coming from the $900 million transportation funding bill passed last year.
Senators also added $10.6 million to the University System of Georgia’s budget for Invest Georgia which is a state-run venture capital fund which was set up to provide funding to tech start-ups. Invest Georgia is an initiative of Lt. Governor Casey Cagle.
Budget writers from both the House and Senate will now begin working on a final version of the FY17 budget.
