District of ColumbiaD.C. approves up to $2.03 billion in public project borrowing
D.C. can sell bonds or use temporary loans within a shared $2.03 billion limit to pay for public projects and related financing costs.
What it does
D.C. may borrow up to $2.03 billion for public projects, including schools, transportation, and housing. The approval also covers related borrowing costs.
If an agency has more money than it needs to finish an authorized project, the excess must be available for other Council-approved public projects.
Argument forBorrowing could help D.C. pay upfront for schools, transportation, and housing projects without waiting to cover their full costs.
Argument againstBorrowing could cost D.C. more than the projects themselves through interest, financing fees, and money set aside for debt payments.
More detail
The Council approves D.C. borrowing through bonds and temporary loans called notes. The approval covers public projects, related financing costs, and repayment of money D.C. temporarily advanced. Bonds and temporary notes share a $2,032,320,519 borrowing limit. Temporary notes cover initial costs of projects included in D.C.'s annual budget plan.
D.C. must make excess project funds available for other approved public projects. This rule applies when an agency receives more money under this resolution than it needs to complete an authorized project. The receiving projects must have Council approval under an earlier or later bond borrowing resolution or law.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Oct 9Resolution R26-0510, Effective from Sep 22, 2026 Published in DC Register Vol 73 and Page 012978Latest
- Sep 22Approved with Resolution Number R26-0510Major
- Vote recorded Final Reading. Result: pass.Legislature
- Sep 22Final ReadingMinor
- Sep 22Retained by the Council with comments from the Committee of the WholeMinor
- Sep 16PR26-0803 Introduced by Chairman Mendelson at Office of the SecretaryIntroduced
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