Funding bill clears transportation committee

It took eight hours and several changes to get a new transportation funding bill through a committee hearing Wednesday night.

DENVER - It took eight hours and several changes to get a new transportation funding bill through a committee hearing Wednesday night.

House Bill 1242 creates a November ballot measure aimed at funding high priority projects across the state, but it'll put some mileage on your wallet with a sales tax increase.

The bill asks for a .62 percent sales tax increase that would bring in a projected 695 million dollars a year. At the same time, vehicle registration fees would be reduced. 

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The original bill asked for 300 million dollars to be set aside for CDOT. One of the amendments on Wednesday asked for that to be increased to 375 million.

The rest would go to a local grant program.

What projects the bill would pay for, how they are decided and if it handles maintenance projects are yet to be decided. 

From here, the bill heads to the finance committee.

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