Budget & Taxes (Debt & Bonds)

SB 5734 authorizes up to $2.5 billion in state bonds to finance Washington's share of the Interstate 5 bridge replacement project with Oregon, directly affecting bridge toll users and taxpayers paying fuel and vehicle-related fees. The bill establishes that bond repayment will come first from bridge toll revenue, then from fuel taxes and vehicle fees, with no state debt issued without approval from the state financing committee. It clarifies that bonds are secured solely by toll revenue and fees - not general state credit - and requires the legislature to maintain these tolls and taxes to cover bond payments. The project will be funded through partnership with Oregon, sharing both costs and toll revenues equally.