Texas Legislature Passes Transportation Funding Measure

The Texas legislature approved a constitutional amendment that would increase transportation spending by about $1.2 billion per year during the third special legislative session called by Texas Governor Rick Perry. The amendment requires the legislature every two years to establish a minimum balance in the state’s Rainy Day Fund. Once that minimum balance is reached, half of the oil and gas tax going into the Fund will be redirected to roads and bridges. The amendment must still be approved by the voters in a referendum scheduled for November 2014. AGC of Texas was a leader in the effort to get this initiative passed and will be active in educating the public to support it in November 2014.