Title: An act relating to authorizing bonds for transportation funding.

Brief Description: Authorizing bonds for transportation funding.

Sponsors: Representatives Murray and Simpson.

Brief History:

Transportation: 4/11/05, 4/12/05 [DPS].

HOUSE COMMITTEE ON TRANSPORTATION

Majority Report: The substitute bill be substituted therefor and the substitute bill do pass. Signed by 20 members: Representatives Murray, Chair; Woods, Ranking Minority Member; Skinner, Assistant Ranking Minority Member; Campbell, Curtis, Dickerson, Ericksen, Flannigan, Hankins, Hudgins, Jarrett, Lovick, Morris, Nixon, Sells, Shabro, Simpson, B. Sullivan, Upthegrove and Wood.

Minority Report: Do not pass. Signed by 7 members: Representatives Wallace, Vice Chair; Appleton, Buck, Kilmer, Rodne, Schindler and Takko.

Staff: Gary Lebow (786-7304).

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 of Substitute Bill:

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.

Substitute Bill Compared to Original Bill:

Bond amount was increased from $5.0 billion to $5.1 billion.

Appropriation: None.

Fiscal Note: Not requested.

Effective Date of Substitute Bill: The bill takes effect on July 1, 2005.

Testimony For: None.

Testimony Against: None.

Persons Testifying: None.

Persons Signed In To Testify But Not Testifying: Will Knedlik, 520 Users Coalition.