August 7, 2013
The Texas Legislature on Monday night approved a constitutional amendment that would add about $1.2 billion annually to the state’s transportation spending, according to a report from our sister site, Better Roads.
The money would come from a portion of oil and gas revenues diverted from the Rainy Day Fund and would go to the Texas Department of Transportation (TxDOT).
The Texas House and Senate last month agreed to allow the Legislative Budget Board to determine the Rainy Day Fund’s balance and to give the board authority to cut off transportation funding if more money is needed in the Rainy Day Fund. The money would only fund projects on non-toll roads and bridges.
The measure will go to Texas voters in November 2014.