TIME-21 E-alert

Legislative Update

This week, both legislative chambers introduced study bills (House Study Bill 321 and Senate Study Bill 1359) that are considered the first step toward addressing the state’s road funding needs. 

On Tuesday, the House bill was voted out of the House Ways and Means Committee, which moves it to the House floor for debate.  The measure must still be approved by the full Senate Ways and Means Committee to be considered by the Senate. 

Ultimately, the measure must still pass the House and Senate and be signed into law by Gov. Chet Culver.

Highlights of the legislation

• Creates the TIME-21 Fund
• Funding would come from any moneys appropriated by the General Assembly and any revenues credited by law to the TIME-21 Fund
• Funding would be distributed according to a 60 percent Primary Road Fund/20 percent Secondary Road Fund/20 percent Street Construction Fund formula
• Funding is directed toward specific investment areas
• Calls for continued development and issuance of needs and revenue studies and report
• Establishes an eight-member legislative interim committee to develop a financing proposal for next session (membership includes four members of the senate, two appointed by the majority leader of the Iowa Senate and two appointed by the minority leader of the Senate; and four members of the Iowa House of Representatives, two appointed by the speaker of the House and two appointed by the minority leader of the House)

e-alert issued 4/25/07