Texas House, Senate agree to divert Rainy Day Fund money for transportation
Texas House and Senate negotiators reached an agreement on Friday to divert an estimated $848 million in oil and gas taxes from the Rainy Day Fund to fund transportation projects, according to a report from our sister site, Better Roads.
Senator Robert Nichols (R-Texas), who authored the measure, said the funds would only be used on non-toll roads and bridges. Additionally, the Legislative Budget Board would be allowed to determine what the Rainy Day Fund balance should be and to cut off transportation money if more is needed for the fund.
The bill requires a two-thirds vote in both chambers and a majority vote from the Texas public to become a constitutional amendment. Texans will be able to vote on the measure in November 2014.
From our partners
Developing a solid relationship with Demolition Technologies Specialized Services enables Crushing Tigers…
MORE FROM Aggbeat Online
SUBSCRIBE & FOLLOW
- PHOTOS: Rock & Run 2014 was full of fun for everyone638 Views
- Mine expansion leaving MnDOT up a creek without a paddle418 Views
- OSHA cites Nebraska sand and gravel company345 Views
- The Underground World Wide Web: A new use for abandoned mines154 Views
- How to stay safe while working with a small or short-handed crew151 Views