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Last night, the Appropriations Committee voted
on a tentative bond package after leadership of both parties
negotiated a bond agreement. The vote was 12 to 1, with Senator
John Martin (Aroostook) opposing it. The agreement included a
total package of $295 million, with $136 million slated for
transportation.
The transportation component includes $110
million for highways and bridges, with an additional $26 million
for non-highway modes. The $26 million for non-highway
projects is still being negotiated, so we don’t yet have a final
breakdown on exactly what makes up the $26 million. (Last month,
the Governor proposed total borrowing of $396 million with $100
million for highways and bridges and $31 million for non-highway
projects over two years. Republican leaders had proposed $200
million in borrowing over three years, with $60 million per year
going to road and bridge projects and $20 million over three years
for wastewater projects.)
Of the $110 million in
highway and bridge bonds agreed to, $100 million will be repaid
with Highway Fund revenues, while $10 million will be repaid by
the General Fund. As always, the $26 million non-highway
transportation bonds will be repaid with General Fund
revenues.
While the Governor proposed one vote for
the entire transportation package to go out in June, legislative
leaders haven’t decided whether the transportation component will
be one vote in June, or will be divided among two or three votes
in this biennium. he Appropriations Committee is meeting
this afternoon to further those discussions and hopefully reach a
decision by tomorrow.
Once we have more specific
information, we will send out an e-mail update.
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