Colorado transportation bonds bill heads to House

Posted at 11:50 AM, Mar 28, 2018
and last updated 2018-03-28 13:50:52-04

DENVER (AP) — Colorado's Republican-led Senate has unanimously approved a bill to ask voters in 2019 if the state can issue $3.5 billion in bonds for roads and bridges.

The bill approved Wednesday also makes a one-time payment of $500 million for transportation.

It now goes to the Democrat-led House, where leaders object to using tax dollars to back bonds. They cite pressing needs in education funding.

Voters would decide whether to spend $250 million annually to back the bonds, which are expected to cost up to $5 billion over 20 years.

The bonds would replace nearly $1.9 billion in transportation bonds lawmakers agreed to issue last year. Those were backed by leasing out state buildings.

Colorado has a $9 billion backlog in roads projects.