House, Senate Come To Terms On Transportation Funding

AUSTIN (July 26, 2013)--Texas lawmakers reached a deal Friday to send a proposal to increase funding for roads and bridges to voters in the form of a constitutional amendment.

State Sen. Robert Nichols, R-Jacksonville, said negotiators from the House and Senate hammered out the agreement Friday and only needed to fix a few details.

Legislators agreed to a proposed constitutional amendment that would divert about $848 million in oil and gas revenues away from the state's Rainy Day Fund.

An accompanying law would set a minimum balance for the fund until the Legislative Budget Board takes control of it.

Nichols said the money would only be spent on non-toll roads and bridges and could not be spent to pay off debt.

The House and Senate are scheduled to meet again Monday to give final approval.

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