Board of Directors Regular Meeting Agenda
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Receive, consider and act upon a recommendation from the Ad Hoc Transportation Committee regarding Proposition 1;
Texas voters will decide on a proposed constitutional amendment on November 4, 2014 that could provide billions more in state transportation funding without new taxes, fees or debt.
The November 2014 statewide ballot proposition is a constitutional amendment authorized by SJR 1, which legislators approved last year. The amendment would authorize annual disbursements from the state's oil and gas production tax collections to the State Highway Fund. An estimated $1.4 billion would be transferred in to the State Highway Fund in year one. The amendment would provide a significant step toward meeting the unmet funding needs for transportation projects in Texas.
The ballot language for the proposition reads:
If approved by voters, the measure authorizes additional Texas transportation funding (without new taxes, tolls or fees) to be used for new construction and preservation of the state highway system. These funds cannot be used for toll roads. HB 1, a related bill that was also approved by the Texas Legislature in 2013, put these requirements in place.
The constitutional amendment would provide significant progress in addressing the state's unmet transportation needs and, as oil and gas production in Texas continues to grow, the amount of funding dedicated to transportation will also increase. However, this amendment alone does not "solve" Texas' transportation funding challenge. TxDOT estimates that the state has at least $5 billion in unmet transportation needs each year. Even with the passage of this ballot proposition, the state still faces a significant funding gap for transportation infrastructure.
Approve the attached resolution supporting Proposition 1 as recommended by the Ad Hoc Transportation Committee.
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