House Bill 314 - Transportation Funding Summary

• Increases sales tax distribution to the transportation expansion and congestion mitigation fund from 1% to 4.5%, but guarantees a minimum annual allocation of $1,567,000,000

• Establishes that the transportation expansion and congestion mitigation fund receives moneys from sales tax (Section 63-3638), use tax (Section 63-2520), and other appropriated moneys for transportation projects

• Authorizes the Idaho housing and finance association to issue bonds secured by fund moneys to finance state transportation projects approved by the Idaho transportation board and grants to local units of government

• Requires 30% of net proceeds from bonds issued to be made available to local units of government as grants, distributed based on allocation percentages in Section 40-709, Idaho Code

• Permits local units of government to use transportation funds for mitigating traffic congestion, maintaining and improving highways and streets, constructing new highways and bridges, and related infrastructure improvements