SB 18-001 passed out of the House Transportation Committee with a strike below amendment to the bill. SB 18-001 as currently drafted would provided the following funding for transportation infrastructure projects:
- $495 million in FY 2018/2019 with 70 percent going to the state, 15 percent to cities and counties and 15 percent going to multi-modal.
- $150 million in FY 2019/2020 with 70 percent going to the state, 15 percent to cities and counties and 15 percent going to multi-modal.
- In 2019, a referred bonding measure would be submitted to voters to consider the authorization of $2.35 billion in transportation bonds.
- The bill would also create a $335 million reserve fund to ensure payment of the bonds in the event of an economic downturn.
- The bill also would allow for the first tranche in lease purchase agreements authorized through SB 17-267 to move forward.
CML has consistently supported transportation legislation that offers a statewide solution to our infrastructure challenges. Now that SB 18-001 offers a local share back to support local government transportation challenges we have changed our position to support the legislation. This bill is still a work in progress and there will be a number of amendments to the bill before final passage. But we have been encouraged by the discussions taking place at the capitol in recent days and will be working hard to make sure municipalities are not an after thought on this important issue.