SB17-205: Build a Multimodal Transportation System Act

• Requires the Colorado Transportation Commission to submit a ballot question to voters in November 2017, 2018, or 2019 to increase the state sales and use tax rate from 2.9% to 3.15%, generating approximately $287.5 million annually.

• Authorizes the issuance of up to $4 billion in new Transportation Revenue Anticipation Notes (TRANs) with a maximum repayment cost of $5.75 billion and a 20-year repayment term if voters approve the ballot measure.

• Dedicates at least $500 million of TRAN proceeds exclusively to passenger rail service in the Interstate 25 corridor, with remaining proceeds funding projects on the Colorado Department of Transportation's priority list.

• Requires new sales and use tax revenue generated by the rate increase to be credited to the Highway Users Tax Fund and used first for TRAN repayment, then for state transportation projects.

• Implements specific contract award process requirements and transparency provisions for transportation projects funded with the additional TRAN proceeds, including design-build limitations and public disclosure of winning bids.