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Fri July 26, 2013
Deal Reached To Allow Texas Voters To Decide Transportation Funding
Texas lawmakers have reached a deal to increase funding for roads and bridges — if voters approve a constitutional amendment in November 2014.
Republican Sen. Robert Nichols said negotiators from the House and Senate hammered out the agreement Friday and only needed to fix a few details.
Legislators agreed to a proposed constitutional amendment that would divert about $848 million in oil and gas revenues away from the state's Rainy Day Fund. An accompanying law would set a minimum balance for the fund until the Legislative Budget Board takes control of it.
Nichols said the money would only be spent on non-toll roads and bridges and could not be spent to pay off debt.
The House and Senate are scheduled to meet again Monday to give final approval.
Copyright 2013 The Associated Press.