E7165412A951C4BB87258576006D4F22 Hearing Summary

Representatives Esgar and McCluskie presented House Bill 20-1376 to the committee. The bill, as recommended by the Joint Budget Committee, repeals scheduled transfers in FY 2020-21 and FY 2021-22 and changes the source of funds used to pay lease obligations. It also repeals state law requiring referral of a 2020 ballot measure to authorize the issuance of transportation revenue anticipation notes, and refers a similar 2021 measure instead. If approved by voters, the measure will increase state revenue and expenditures for transportation over the period from FY 2021-22 to FY 2023-24, and require transfers and expenditures for debt service.