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Gov. Branstad signs bill into law slashing state budget

State capitol building in Des Moines

DES MOINES – Gov. Terry Branstad today signed the following bill into law:

Senate File 130: an Act relating to public funding and regulatory matters and making, reducing, transferring, and supplementing appropriations for expenditures in the fiscal year beginning July 1, 2016, and including effective date provisions.

“Lt. Gov. Reynolds and I appreciate that the 1st bill passed by the Iowa legislature, responsibly balances the budget for fiscal year 2017,” said Gov. Terry Branstad. “As I said in my Condition of the State address, these adjustments are required by law. I’m pleased that the legislature made the tough decisions early in the session exempting K-12 education funding, Medicaid payments and property tax backfill for local governments from reduction, providing stability for Iowa schools, businesses, and families.”

The bill passed the Iowa House 58-38 on Jan. 30, 2017 and the Iowa Senate on Jan. 26, 2017, 28-19.

Among the hardest hit in the bill is the Department of education, losing over $4.5 million.  Also, community colleges lose $3 million.  The Department of natural resources loses $1.3 million.  The Department of Corrections is cut $5.5 million.  The Department of human services loses $3.8 million.  The grow Iowa values fund loses $12 million.

The state of Iowa had a $622 million surplus in fiscal year 2015.

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