Assembly enacts $23.5 billion capital plan with $1 billion sustainable‑futures fund and modest CHIPS boost

The Assembly approved a capital projects bill authorizing approximately $23.5 billion in appropriations and an estimated $21.4 billion fiscal‑year spending plan. The sponsor characterized the bill as a multiyear investment across transportation, economic development, education, environmental protection and water infrastructure.

Key elements include $6.2 billion for transportation, a $3.7 billion parks and environment allocation, and a new Sustainable Futures program that combines previous reappropriations with an added $1 billion in bonded capital for climate mitigation, renewable energy, zero‑emission transportation and resilience projects. Sponsor and members debated the appropriate balance between borrowing for climate and increasing CHIPS/local roads investment; the transcript records calls for larger CHIPS increases to address local road deterioration and inflationary construction costs.

The bill also adds funding targeted at water infrastructure for housing expansion and a $175 million allocation to support housing‑related water hookups. Floor speakers praised local project wins in their districts — from library and brownfield credits to regional resiliency projects — while others warned the CHIPS increment ($50 million) is insufficient compared with need.

The capital bill passed (roll calls recorded on the floor) and authorizes new debt of about $11.4 billion for the year, according to the sponsor.