Thursday, May 10, 2018

Colorado's Legislative Leaders Strike A Deal To Boost Transportation Funding

Image Credit: Flickr 
On Tuesday, the Colorado legislature passed Transportation Infrastructure Bill SB-001, providing $645M from the general fund for transportation projects over the next two years. The bill could also place a ballot measure on the 2019 ballot for voter approval of $3.5B in Transportation Revenue Anticipation Notes (TRANs) bonds, as long as a citizen-initiated ballot measure requiring the state to issue TRANs bonds is not approved by voters in the 2018 election.

The $645M in general funds includes $495M in 2019 and $150M in 2020, with 70 percent allocated to CDOT's top-tier projects, 15 percent to the multimodal transportation options fund, and 15 percent to local governments.

On Monday, House Speaker Crisanta Duran, D-Denver, and Senate President Kevin Grantham, R-Cañon City announced the compromise paving the way for the bill's passage. The bill is now on its way to Governor John Hickenlooper for his signature.

The bill recognizes Colorado's population growth and increasing congestion, and notes the reduction in state contribution to transportation in recent years. It also identifies the success of the 1999 TRANs program, which accelerated the delivery of transportation projects and has been fully repaid.

Learn more about the bill from Colorado Public Radio.

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