Connecticut lawmakers approved a compromise deal within the state budget on May 9 to accelerate the transfer of the sales tax on cars from the general fund to the transportation fund, and utilize bonds ($250 million in General Obligation bonds, which will be repaid from the general fund, and $750 million in Special Tax Obligation bonds) for an additional $1 billion over five years in road, bridge and transit funding. The new revenue will prevent cuts to transit and the suspension of transportation projects that would have occurred on July 1. There is concern that the amount is not sufficient to stabilize the transportation fund, and several lawmakers predict the issue will be picked up again in next year’s legislative session.
Minnesota Senate Republicans on May 9 proposed an additional $174.6 million bond earmarked to fund projects along Highway 14, in addition to the $825 million in transportation bonds already being discussed by the House and Senate.
Colorado legislation to increase state transportation funding (read details of the bill here) passed the Senate unanimously and the House 36-29 on May 8.
Read details about these bills and more on TIAC’s “State Transportation Funding Legislation” page.