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Bill Detail: HB20-1376

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Title Modify Transportation Funding Mechanisms
Status Governor Signed (06/30/2020)
Bill Subjects
  • Transportation & Motor Vehicles
House Sponsors D. Esgar (D)
J. McCluskie (D)
Senate Sponsors B. Rankin (R)
R. Zenzinger (D)
House Committee Transportation and Local Government
Senate Committee Finance
Date Introduced 05/26/2020
Description

Joint Budget Committee. Current law, enacted by Senate Bills
18-001 and 19-263, requires that a ballot issue seeking approval for the
issuance of transportation revenue anticipation notes (TRANs) be
submitted to the voters of the state at the November 2020 general
election. If the ballot issue is approved, the requirement, enacted by
Senate Bill 17-267, that the state execute 2 separate tranches of up to
$500 million each of lease-purchase agreements in state fiscal years
2020-21 and 2021-22 for the purpose of funding transportation, will be
repealed. Current law, enacted by Senate Bill 19-239, also requires
department of transportation (CDOT) rule-making and reporting relating
to motor vehicles used for certain types of commercial purposes. The bill:
  • Delays from the November 2020 general election to the
November 2021 statewide election the requirement that a
ballot issue seeking approval for the issuance of
transportation revenue anticipation notes (TRANs) be
submitted to the voters of the state;
  • Amends the ballot issue to reduce the amount of TRANs
authorized to be issued by $500 million to offset the
additional $500 million of lease-purchase agreement
transportation funding that becomes available because the
approval of the ballot issue at the November 2020 general
election will repeal only the state fiscal year 2021-22 and
tranche of Senate Bill 17-267 lease-purchase agreements,
rather than both the state fiscal year 2020-21 and 2021-22
tranches of such lease-purchase agreements;
  • Eliminates 2 statutory transfers of $50 million each from
the general fund to the state highway fund that are
scheduled under current law to be made on June 30, 2021,
and June 30, 2022;
  • Reduces the amount of general fund money dedicated to
make lease-purchase agreement payments due in state
fiscal years 2020-21 and 2021-22 by $12 million per year
by increasing the amount of such payment to be paid by the
department of transportation from its other sources of
legally available money by $12 million per year; and
  • Repeals the CDOT rule-making and reporting requirements
relating to motor vehicles used for certain types of
commercial purposes.

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with Amendments
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Fiscal Notes Fiscal Notes (06/10/2020) (most recent)  
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