DENVER — Thursday, May 31, 2018 — Gov. John Hickenlooper signed SB 18-001 into law today. At the bill signing ceremony, the Governor said:

“The Transportation Infrastructure Funding Bill was an exercise in getting past partisan politics and doing what’s best for Colorado,” said Governor John Hickenlooper. “This bill certainly doesn’t cover all the projects we need to tackle, but is a great start and one of the largest commitments to transportation from the general fund.”

 

Number

Title

Sponsors

Summary

SB 18-001

Transportation Infrastructure Funding

Sens. Baumgardner & Cooke / Reps. Buck & Winter

Concerning transportation infrastructure funding, and, in connection therewith, requiring specified amounts to be transferred from the general fund to the state highway fund, the highway users tax fund, and a new multimodal transportation options fund during state fiscal years 2018-19 and 2019-20 for the purpose of funding transportation projects and to the state highway fund during any state fiscal year from 2019-20 through 2038-39 for state highway purposes and to repay any transportation revenue anticipation notes that may be issued as specified in the bill and, if no citizen-initiated ballot measure that requires the state to issue transportation revenue anticipation notes is approved by the voters of the state at the November 2018 general election, requiring the secretary of state to submit a ballot question to the voters of the state at the November 2019 statewide election, which, if approved, would require the state, with no increase in any taxes, to issue additional transportation revenue anticipation notes for the purpose of addressing critical priority transportation needs in the state by funding transportation projects; would exclude note proceeds and investment earnings on note proceeds from state fiscal year spending limits; and would reduce the amount of lease-purchase agreements required by current law to be issued for the purpose of funding transportation projects.

 

For a list of the governor’s legislative actions, please visit here.

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