AUSTIN (AP) – Texas lawmakers are considering diverting nearly $1 billion a year from the state’s cash reserves into a fund dedicated to building and maintaining roads.
Gov. Rick Perry this week added transportation funding to the agenda of the special session of the Legislature. The Senate Finance Committee laid out a plan Wednesday to send a portion of oil and gas severance taxes into a special roads fund.
That money now goes into the state’s reserve fund. Dedicating part of that money to building roads would require a constitutional amendment approved by voters statewide.
State transportation leaders say Texas needs about $4 billion more per year on roads, even after a decade-long spike in highway construction and maintenance.
The panel is expected to send the measure to the full Senate on Friday.
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