HB 1125 – Final 2023-25 Transportation Budget

Last year\’s budget included $11.6 billion for the 2021-23 biennium. The March revenue forecast projects $7 billion in state revenues for 2023-25. The House version of HB 1125 proposed $13.228 billion in spending while the Senate proposed $12.959 billion. The conference agreement includes $13.5 billion. There is $860 million in funding that is expected to be unspent this biennium that is being moved into the next biennium, which is referred to as \”reappropriation.\” This budget spends $2.3 billion in federal funding. Bond servicing will cost $1.8 billion. And this
budget includes the final revision for the 2021-23 biennium (second supplemental budget), a reduction of $1.1 billion.