Governor Brad Little signed House Bill 362 into law today, his sustainable transportation funding solution that directs $80 million in ongoing funding, allowing the state to bond for up to $1.6 billion for transportation infrastructure projects statewide.
It is the single largest state investment in transportation infrastructure in Idaho history.
The solution was achieved without raising Idahoans’ taxes or fees by redirecting a larger share of the existing sales tax to the funds that support transportation projects.
The solution also provides a new sustainable source of funding for local highway districts to maintain the roads closest to Idahoans’ homes.
To help advance bid-ready transportation projects across Idaho, Governor Little and the Idaho Legislature also directed $126 million in one-time funds this year from the state’s record budget surplus as part of Governor Little’s “Building Idaho’s Future” plan.
“Idaho is the fastest growing state in the nation. To keep up with the demands of a fast-growing state, our sustainable transportation funding solution helps save Idahoans’ time, keeps us safe on our roads, and makes our state’s economy even stronger,” Governor Little said. “One of the most basic responsibilities of government is to provide a transportation system that facilitates commerce and keeps citizens safe. I appreciate my partners in the Legislature and Idaho businesses for recognizing the need to invest strategically and sustainably in transportation.”