Increase General Fund Funding For Transportation

Current law, enacted in Senate Bill 18-001, requires the state treasurer to transfer, on July 1, 2019, a total amount of $150 million from the general fund to fund transportation needs as follows: $105 million (70%) to the state highway fund; $22.5 million (15%) to the highway users tax fund for allocation in equal shares to counties and municipalities; and $22.5 million (15%) to the multimodal transportation options fund. The bill increases the total amount of the July 1, 2019, transfer to $340 million so that the amount of the individual transfer to the multimodal transportation options fund is unchanged and the individual transfers to the state highway fund and the highway users tax fund are increased to the following amounts: $266.5 million (78.38%) to the state highway fund; $51 million (15%) to the highway users tax fund for allocation in equal shares to counties and municipalities; and $22.5 million (6.62%) to the multimodal transportation options fund.(Note: This summary applies to this bill as introduced.) Read More