LINCOLN –Governor Pete Ricketts announced that he and the Appropriations Committee have agreed to changes to LB960 also known as the Transportation Innovation Act.
“Thanks to the collaboration of the Appropriations Committee and my office, we have successfully agreed upon improvements to the Transportation Innovation Act which will direct additional funding towards accelerated roads construction. We look forward to working with the full Legislature to deliver this important infrastructure initiative to Grow Nebraska.”
The Governor also wishes to thank Transportation and Telecommunications Chairman Jim Smith for introducing this legislation and Senator Lydia Brasch for designating LB960 as her senator priority for this session.
The components included in the compromise language for LB960 include:
· A transfer of $50 million from the State’s Cash Reserve Fund
· Dedication of unprogrammed Department of Roads revenue through June 30, 2033
· Dedication of up to $40 million for the County Bridge Match Program with a sunset on June 30, 2023
· Dedication of up to $20 million for the Economic Opportunity Program
· Additional performance-based reporting requirements for projects completed under the TIA
“The Appropriations Committee appreciates the Governor’s collaboration with us on this important priority,” said Appropriations Chairman Heath Mello. “Investing in infrastructure has been a key priority for the Legislature over the years, and this initiative will complement previous commitments we have made to improve Nebraska’s expressways, roads, and bridges.”