Jessica Goad, 720-206-4235
Date: May 8, 2018
The Colorado state Senate just moved to accept the state House amendments and repass SB 1, a bill funding Colorado transportation including significant investment in multimodal options.
Check it out here.
Maria Handley, Interim Executive Director of Conservation Colorado, stated:
We’re pleased with this compromise, as it recognizes the need to significantly grow our investments in multimodal options like senior and disability buses, sidewalks for pedestrians, highway shoulders for tractors, and resources to keep everyone safe. It is a step towards funding our state’s massive transportation needs in a fiscally responsible manner and supports a system that will benefit all Coloradans.
With 2.5 million more people expected to live in Colorado over the next 25 years, multimodal options are more important than ever to combat congestion and improve air quality. We believe additional revenues are needed to address our full suite of transportation needs, but this bill provides critical initial investments to move us forward.
We thank Speaker Crisanta Duran, Representative Faith Winter, Senator Rachel Zenzinger, Senator Kevin Grantham, and other leaders who were relentless in ensuring that this bill provide equitable investments for both urban and rural Coloradans.
SB 1 funds multimodal options in the following ways:
- $74.25 million to the multimodal transportation fund in this year’s one-time general fund transfer of $495 million
- $22.5 million to the multimodal transportation fund in next year’s one-time general fund transfer of $150 million
- 15 percent of the net proceeds from TRANS bonds to the multimodal transportation options fund
- Creates the multimodal transportation options fund for local governments and state transit projects
- Creates greater flexibility for local governments by removing restrictions for how they spend their multimodal dollars