SB 5165 – 2021-23 Transportation Budget

As of March 2020, the 2019-21 budget was $10.4 billion. The proposed second supplemental budget reduces the amount by $1.3 billion. The revenue forecast projects $6.3 million in state revenues for 2021-23, a loss of $134 million from the March 2020 projections. There is an expectation of more than $1 billion in federal COVID-19 relief funding in addition to the normal federal allocation. Bond authority is $2.5 billion to issue more debt while current bond obligations and debt service is expected to be $1.86 billion.