Guernsey's new Policy & Resources Committee hope to tackle what they call the island's 'two top priorities' with a single amendment.
The senior committee will ask the Assembly to approve funding the building of a new Post-16 campus at Les Ozouets.
It says it is time to progress Education's post 16 transformation plans, which have stalled, despite being approved, because of funding disagreements.
P&R says £88M is needed. It will borrow £55M and £33M will come from reserves.
The committee says the borrowing would be supported by an increase in revenue coming from a new tax on multi-national businesses.
The so-called 'Pillar 2 initiative' is now expected to bring in £30M a year - which is £20M more than previously thought.
P&R's head, deputy Lyndon Trott says this is good news:
"That’s given us the flexibility to put together a package.
It still requires some borrowing and the use of some of our reserves, but fortunately, it enables us to have an identified funding stream which makes these proposals entirely legitimate."
He says P&R has worked with Education to produce the amendment:
"I would be very pleased to see my colleagues at the Education Committee, both at the officer level and political level, walking around with smiles on their faces."
Deputy Andrea Dudley-Owen, the political head of Education, backs the plan:
“I welcome the Policy & Resources Committee’s engagement to find a way to deliver the new Les Ozouets Campus. I also welcome the strategic view being taken, as we look at the wider benefits for Guernsey in proceeding with this programme.
The most recent debate on funding was a huge frustration, leaving significant parts of our education provision in limbo."
P&R says the construction at Les Ozouets would eventually allow them to use the Coutanchez site for housing - which is another strategic priority for the island.
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