The Senate passed a Republican measure today that would help fund highways and place the state in a better position for future transportation funding.

Sponsored by Sen. Mike Kopp, R-Littleton and Rep. Mike May, R-Parker, House Bill 1139 makes the state government conduct a fiscal analysis to determine if it is in the best interest of Colorado taxpayers to bid on projects that come on the market.  If the state bought the road--or entered into a public-private partnership, the proceeds that exceed debt-service payments could be used to fund critical transportation needs.

“This bill helps position the state to innovatively address its transportation-finance needs,” said Kopp.  “This bill would give Colorado the opportunity to take advantage of a new source of revenue to help fund our highways.” 

House and Senate Republicans led by the GOP's Sen. Josh Penry unveiled a proposal today to shore up the state's backlogged transportation needs--without raising taxes, changing the constitution or staging a costly campaign for a statewide ballot issue.

Republicans say their "Plus-One Plan"--which also sets aside funding to back up the state budget in an economic downturn--is a more realistic alternative to a pending Democrat proposal that would ask voters in November to scrap the state's constitutional spending limits.

"This is a smart way to get at the same end without raising taxes and without a fall campaign," Penry, of Grand Junction, told reporters at a Capitol news conference.

Plus-One would tap into annual funding increases for schools that are currently mandated by the constitution but that are scheduled to end next year. The GOP plan would redirect those funds to transportation and a "rainy day" fund for the budget. The Republicans released data compiled by nonpartisan legislative staff showing the GOP plan will raise nearly $3.8 billion over the next decade. Some $2.5 billion of the money would go to transportation and more than $1 billion to a reserve fund.

"You take the budget freedom that (the GOP plan) creates and invest it in tansportation and other needs," Penry said.