Legislative / Regulatory Alerts
Contact: Brad Barnum / Executive Vice President - 858-731-8158
April 7, 2017
California Legislature Passes $5.2 billion Per Year Transportation Funding Bill
As noted in this weeks Monday Morning Quarterback, for several legislative sessions, AGC San Diego participated in a coalition of industry and transportation advocates pushing for a fix to California's transportation funding shortfall. Finally, late last night, both Chambers of the State legislature passed Senate Bill 1 that will fund $52 billion of improvements to freeways, transit, and local roads over the next decade.
The bill is funded by an increase in gas and diesel tax rates after decades of inflation reducing the purchasing power of the revenues raised for road repair. Future revenues are indexed to inflation under Senate Bill 1, to avoid the expensive boom and bust cycle of transportation funding. To lock these funds away exclusively for transportation use, the legislature also passed a Constitutional Amendment, to be ratified by voters in 2018.
On behalf of the 1,100 member companies of AGC San Diego, thank you to the area legislators who did the difficult work to address California's transportation funding shortfall.
If you have any questions please contact Eddie Sprecco or (858) 750-4266.