Legislature Reaches Agreements On State Budget

The dome of the State Capitol Building in Jefferson City | Photo by Nicole Lunger
Nicole Lunger/Missouri Business Alert

Missouri legislators agreed to move forward with Gov. Jay Nixon’s plan to fund a new, maximum security facility at Fulton State Hospital and struck a deal on education funding increases. A House-Senate conference committee is reconciling differences in the two chambers’ fiscal year 2015 budgets. The budget must be completed by Friday.

Nixon’s plan for the Fulton facility involves 25 years of bond repayment. Lawmakers also agreed to provide a $278 million increase for the Foundation Formula, which funds public K-12 schools, if revenue grows as much as Nixon projects.

Other increases agreed upon in the conference committee this morning include an average of a 5 percent increase for both 2-year and 4-year public higher education institutions based on performance funding.

Read more from the St. Louis Post-Dispatch


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