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More than $1.7B meant for Texas highway projects

AUSTIN, Texas — More than $1.7 billion will be available for Texas highway projects after voters last month approved a constitutional amendment allowing more money for roads.

The Texas Department of Transportation hasn’t identified specific projects that would be financed but instead offered guidelines.

The Austin American-Statesman reports a legislative panel Thursday decided that the state Rainy Day fund’s minimum balance should be $7 billion. That clears the way for an estimated $1.74 billion of oil and gas severance taxes for road projects.

TxDOT suggests 30 percent budgeted for congestion relief projects. Another 30 percent would go toward projects that would primarily connect rural areas to interstates and other state highways.

The remaining 40 percent would be evenly split between maintenance and repair of damaged roads.

 

Information from: Austin American-Statesman, http://www.statesman.com

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