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Lingle signs $10.2 billion budget bill

Gov. Linda Lingle has signed state budget and bond measures for the fiscal year that begins Thursday.

The budget bill appropriates more than $10.2 billion for executive branch operations and almost $1.7 billion for executive branch capital improvement projects.

The bond measure authorizes the issuance of about $326 million in state general obligation bonds, which will finance state capital improvement projects.

At the start of this year’s legislative session, the state was facing a projected $1.2 billion budget deficit through June of next year.

The new budget eliminates that shortfall through tax increases, targeted cuts and savings realized from last year’s layoffs of more than 800 state employees.

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