Michigan Gov. Rick Snyder Monday signed a capital budget bill that authorizes $304 million of debt for projects at higher education institutions.

The state funds will be matched by $300 million in local funding, according to the governor’s office.

The legislation, HB 5541, advances 18 construction projects at colleges and universities.

There are six projects that total $30 million, including two for the University of Michigan, one at the Ann Arbor campus and one at the Dearborn campus.

Other top projects include a $30 million bioengineering facility at Michigan State University and $30 million for science facilities at Grand Valley State University.

“These investments allow higher education in Michigan to stay on the cutting edge,” Snyder said in a statement. “Our colleges and universities play a critical role in Michigan’s future. I am pleased that we are able to support these worthwhile projects.”

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