Thu February 13, 2014
Bill would allow bond-financing for Neb. roads
LINCOLN, Neb. (AP) — Nebraska lawmakers are being asked to take a new approach to roads funding, with a bill that would allow the state to finance high-priority projects with bonds.
Nebraska has used a pay-as-you-go system for decades, but supporters said Wednesday that the state could take advantage of low interest rates while launching more job-creating construction projects. Senator Annette Dubas of Fullerton says her legislation would help quicken the pace of long-delayed roads projects.
The bill was introduced three years after Nebraska officials passed a law that will divert an estimated $60 million to $70 million a year into roads projects.
The Department of Roads opposes the bill. Director Randy Peters says the state's traditional approach has served Nebraska well, and projects still take years to design.
The bill is LB1092.
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