Bill related to revenue bonds Interstate 405 and other facilities passes Senate 48 to 1

The Daily Legislative Report for Tue., March 30, 2021

Prohibits tolling revenue bonds from being sold for the Interstate 405/State Route 167 Express Toll Lanes and the Puget Sound Gateway facilities until January 1, 2023.

Troy Kirby for The JOLT

Posted Tuesday, March 30, 2021 4:53 pm

By Troy Kirby

The Journal of Olympia, Lacey & Tumwater Presents The Daily Legislative Report, covering The 2021 Washington State Legislature.

Senate lawmakers debated Engrossed Senate Bill 5232, which prohibits tolling revenue bonds from being sold for the Interstate 405/State Route 167 Express Toll Lanes and the Puget Sound Gateway facilities until January 1, 2023 and until the facilities' revenue outlooks meet certain benchmarks.
Toll revenues have diminished in the past 12 months due to the ongoing COVID-19 pandemic; lower revenues reduce the amount for which such bonds could be sold in today's market.

The tax bill passed the Senate 48-1, moving onto the House for consideration.

For more complete information on any legislation, including sponsors, a synopsis, and fiscal note, visit the Washington State Legislature’s bill information webpage.

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Tractor1

The residents of the Pierce, King, Snohomish counties pushed for the tax. They can

OOPS -- you say the State Constitution prohibits such a move? When has a small bump in the road such as the Constitution blocked the current administration from getting what they want?

Tuesday, March 30, 2021 Report this

Bill related to revenue bonds Interstate 405 and other facilities passes Senate 48 to 1

The Daily Legislative Report for Tue., March 30, 2021

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