Brief Description: Authorizing bonds for transportation funding.

Sponsors: By House Committee on Transportation (originally sponsored by Representatives Murray and Simpson).

House Committee on Transportation

Background:

Bonds have been issued in the past to fund transportation projects that have a long term expected life span. The bonds must be authorized by the Legislature and the proceeds from the sale of the bonds must be appropriated for transportation projects.

Summary:

Authorization is provided for the sale of $5.1 billion of general obligation bonds for transportation improvements. The bonds are backed by the motor fuel tax and the full faith and credit of the state.

Votes on Final Passage:

House   62   36
Senate   32   14

Effective: July 1, 2005