HB 20-1376 Summary

• Delays the voter ballot on transportation revenue anticipation notes from November 2020 to November 2021 and reduces the authorized note amount from $1.837 billion to $1.337 billion with maximum repayment cost reduced from $2.56 billion to $1.865 billion.

• Eliminates scheduled general fund transfers to the state highway fund on June 30, 2021, and moves subsequent annual transfers to June 30, 2023 and beyond.

• Reduces the amount of general fund money for lease-purchase agreement payments from $50 million to $62 million annually for fiscal years 2020-21 and 2021-22, with subsequent adjustments to payment schedules.

• Repeals Department of Transportation rule-making and reporting requirements related to motor vehicles used for commercial purposes that were originally scheduled for implementation during the 2020 legislative session.

• Decreases general fund appropriation by $12 million for S.B. 17-267 collateralization lease purchase payments in fiscal year 2020-21, with corresponding increase in cash funds under transportation commission control.