Arizona Governor Ducey Signs Bill Paying Down $190 Million In State Debt

Arizona Governor Ducey Signs Bill Paying Down $190 Million In State Debt

PHOENIX, AZ (STL.News) – Arizona Governor Doug Ducey Thursday signed S.B. 1215, a bill to pay off $190 million in state debt as part of Arizona’s fiscally conservative, balanced budget.  The elimination of this debt will produce an ongoing savings of $24 million annually through reduced debt payments and avoid over $50 million in interest costs.

The $190 million in debt reduction brings the total amount of State General Fund debt paid off since 2015 to $1 billion — and comes on top of major investments in education, health care, infrastructure and public safety as well as boosting Arizona’s Rainy Day Fund to a record-breaking $1 billion.

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