SENATE BILL REPORT
SB 6094
This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent. |
As of January 29, 2020
Title: An act relating to correcting a reference to an omnibus transportation appropriations act within a prior authorization of general obligation bonds for transportation funding.
Brief Description: Correcting a reference to an omnibus transportation appropriations act within a prior authorization of general obligation bonds for transportation funding.
Sponsors: Senators Nguyen, King and Wilson, C.; by request of State Treasurer.
Brief History:
Committee Activity: Transportation: 1/28/20.
Brief Summary of Bill |
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SENATE COMMITTEE ON TRANSPORTATION |
Staff: Hayley Gamble (786-7452)
Background: Large transportation funding proposals typically include a bond bill authorizing a set amount of bonding to be used for specific capital expenditures. Transportation funding proposals passed by the Legislature in 2003 and 2015 included bond bills authorizing bonding to be used for transportation projects identified as part of the 2003 or 2015 proposals in an omnibus transportation budget bill. Projects are associated with a specific transportation proposal via the project lists produced each year as part of the transportation budget process.
The Transportation Partnership (TPA) funding package was enacted in 2005 and included legislation authorizing bonds for transportation projects designated as TPA projects in the transportation budget. During the codification process in 2005 a reference to "the omnibus transportation budget" was changed to reference the session law for the 2005-07 Transportation Budget.
Summary of Bill: Language is broadened to allow 2005 TPA bonding authority to be used on projects identified as TPA projects in any omnibus transportation budget.
Appropriation: None.
Fiscal Note: Not requested.
Creates Committee/Commission/Task Force that includes Legislative members: No.
Effective Date: Ninety days after adjournment of session in which bill is passed.
Staff Summary of Public Testimony: PRO: This bill is a technical fix bill that frees up $1.3 billion in bond authority that can not currently be used. This bill does not change the bond authorization amount. Currently, TPA funds can only be spent on projects identified on a 14-year-old project list. This bill makes the TPA bond bill consistent with other bond bill authorizations.
Persons Testifying: PRO: Senator Joe Nguyen, Prime Sponsor; Brenda Snyder, Policy Director, Office of the State Treasurer; Jason Richter, Deputy Treasurer of Debt Management, Office of the State Treasurer.
Persons Signed In To Testify But Not Testifying: No one.