Transportation Bill For More Funding Advances In Colorado Legislature
DENVER (AP) — Colorado's Senate has tentatively approved a bill to ask voters to let the state issue $3.5 billion in bonds for roads projects.
Senators voted Wednesday to ask voters in 2019 whether to devote $250 million from the general fund each year to back the bonds. They are expected to cost up to $5 billion in payments over 20 years.
It also calls for injecting $500 million into transportation projects in the fiscal year that starts July 1.
The bill originally called for asking voters to decide this November whether to devote 10 percent of each year's general fund revenues to fund the bonds.
Potential competing ballot initiatives would complicate a legislative measure's prospects of passing this year.
A final Senate vote is needed before the bill goes to the House.
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