TRANSPORTATION SYSTEM PLANNING AND FUNDING

SB 108 is commonly known as FASTER (Funding Advancement for Surface Transportation and Economic Recovery). The bill is a comprehensive job creation and transportation bill. It makes changes to how Colorado finances and administers transportation improvements. Currently, Colorado transportation revenues are not sufficient to maintain the safety of the roadway system. The bill is designed to generate funds that will be used to maintain, repair, and rebuild Colorado’s decaying transportation infrastructure. Additionally, FASTER will help create and protect tens of thousands of jobs in Colorado.

The bill was endorsed by the Joint Select Committee on Job Creation and Economic Growth, Colorado Counties Inc., Colorado Municipal League, Denver Regional Council of Governments, Metro Mayors Caucus, Colorado Fiscal Policy Institute, Economic Development Council of Colorado, Colorado Center on Law and Policy, and numerous other groups. The support from these organizations stems from their concern about the state’s 126 structurally deficient bridges and desperately needed road repairs – which has been called a “quiet crisis.”

The bill will generate an estimated $250 million in annual funding, while keeping the impact to the average driver at $2.50 - $3.50 per month. The funding will be generated from increases in fees, fines, and surcharges, as follows:

• Bridge Safety Fee and Road Safety Fee based on vehicle weight, phased in over a 3-year period.

• Penalties on late registration.

• Rental-car fee of $2.00 per day.

• Fee on oversized and overweight vehicles.

The bill allows for a wide variety of financing mechanisms, including Certificates of Participation. It allows for congestion-based tolling – but only if 100% of impacted local governments approve. For more details, visit the FASTER website at: http://www.coloradofaster.com.

I supported the bill, which has passed and has been signed into law. Although I realize that raising fees during an economic downturn is a hardship, I believe that we can no longer afford to postpone funding for our rapidly deteriorating bridges and deeply potholed roads. We cannot afford to risk the lives of our citizens by neglecting the deteriorating infrastructure. Our citizens should not have to pay for repairs to their vehicles caused by poor road conditions, which are much more costly than the $32 - $41 per year from FASTER. Also, a safe and efficient transportation system is the economic lifeblood of our region. Lastly, but most importantly, the bill creates many jobs, which will help our economy recover.

Some people have asked why we don’t just raise the gas tax. The reason is that the Legislature cannot do this – TABOR says that it requires a vote of the people. A few years ago there was a Legislature-initiated proposal to do so, Referendum D, which was defeated. Even if we did put another gas tax amendment on the ballot this November, we would have to wait nearly a year for the funding to come in.