Since the passage of Proposition 1 in Texas in November of 2014, legislators have been discussing what to do with the $1.7 billion in funds. Proposition 1, which passed with 79.79% of the vote, moves money from the Economic Stabilization Fund (also know as the Rainy Day Fund) from oil and gas taxes into the State Highway Fund. In the first year, that amount is expected to be $1.7 billion and the funds are now set to be spent improving Texas’ roadways. Both the Legislative Budget Board and the Governor’s Office have now approved a plan to distribute the money from Proposition 1 as follows:
- 40% to go to metropolitan planning organizations (about $700 million)
- 30% to go to TxDOT districts to improve connectivity (about $552 million)
- 15% to go to TxDOT districts for maintenance (about $261 million)
- 15% to go to addressing road issues in areas where oil and gas exploration is increasing traffic (about $261 million)
image courtesy of Charles Henry