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Published on Friday, January 30, 2015

Senate considering new local infrastructure financing tool

SB 5624 and the accompanying constitutional amendment in SJR 8204 provide an interesting framework to assist small to medium sized jurisdictions access the private debt (bond) market by providing state assistance to go through the process. We appreciate the recognition that infrastructure investment is critical and want to be supportive of efforts to find new tools to meet that challenge. We will need technical advice from cities on whether this is a truly helpful approach. Our major concern is that this not be seen as a viable replacement for the Public Works Trust Fund (PWTF), which provides actual resources for local infrastructure projects. We continue to advocate strongly that the Legislature not permanently sweep the PWTF revenues to the general fund. Please provide your feedback on SB 5624 to Carl Schroeder.

These bills are scheduled for a public hearing in the Senate Ways & Means Committee at 3:30 pm and Monday, February 2.

Categories: Infrastructure