Contractors will see more than $3 billion in bids for construction projects at public universities over the next two years under the state Legislature's approved budget.
The tuition revenue bond (TRB) funding came at a crucial time, as state colleges have been searching for funding to squeeze increasing enrollments into aging facilities. Legislators have not approved such a deal since 2006 when $1.9 billion was bonded, though they came close last session only to see the measure fail at the last minute. Only about $5 billion in TRB funding has been authorized since the practice began in the 1970's.
Also with the passage of the 2016-17 budget, Texas is poised to see roughly $1.7 billion in the construction of new buildings and repair of aging structures over the next two years.
The lion's share of construction funding is contained in the budget for the Facilities Commission, which has been granted $1.34 billion in its total budget for the next two fiscal years. That figure is a more than 600-percent boost from its current budget of $187.9 million.
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