PROVIDENCE, R.I. (AP) — In his final budget proposal to lawmakers, Gov. Lincoln Chafee is proposing $50 million in new spending on schools and higher education, more money for bridge repairs and a big investment in arts and cultural institutions.

The $8.5 billion budget proposal released Wednesday eliminates a $150 million budget deficit without any changes to current tax rates. It would authorize $52 million in additional historic tax credits to spur redevelopment projects, and proposes several ballot referendums. One would ask voters to authorize $35 million in grants to help performing arts centers, museums and historic sites renovate and upgrade.

The proposed spending plan now goes to the General Assembly for review. Lawmakers typically make big changes before approving a budget in the final days of the session.

Chafee, a Democrat, is not seeking re-election.