Wednesday, March 25, 2009
Cuts and More Cuts
The House of Delegates is concluding work on the state budget today with over $500 million in general fund budget cuts recommended to bring the fiscal year 2010 budget into balance. Budget actions by the Senate Budget and Taxation Committee will conclude over the next two days. House budget actions of interest to business include:
- $10 million reduction to MD Economic Development Assistance Fund;
- $5 million reduction to Sunny Day Fund;
- $1.7 million reduction to eliminate funding for Industrial Training Program and Partnership for Workforce Quality;
- Reducing funding for the small business health insurance subsidy program to $1.5 million for FY 09 and $2 million for FY 10;
- $42 million in budget reductions to higher education; and
- Eliminating language requiring counties to fund 75% of the costs to run the State Department of Assessments and Taxation
Contact Ron Wineholt for further information at .(JavaScript must be enabled to view this email address) .
