Bill > SB5800

This bill authorizes the Washington State Department of Transportation to issue $7 billion in general obligation bonds to fund transportation infrastructure projects. The state finance committee will oversee the bond issuance, which must be sold in a manner that considers favorable interest rates and total costs. The bond proceeds will be deposited in the "move ahead WA account" in the motor vehicle fund and can be used for highway project location, design, right-of-way acquisition, and construction. The bonds are a general obligation of the state, pledging the full faith and credit of Washington, and will be primarily repaid through state excise taxes on fuel and vehicle-related licensing fees. The bill specifically requires that the legislature continue to impose these taxes and fees in amounts sufficient to pay bond principal and interest. Additionally, the bill amends a previous authorization for State Route 520 corridor projects, increasing the bonding amount from $1.95 billion to $2.45 billion. The bill is declared an emergency measure and takes effect immediately, emphasizing the urgent need for transportation infrastructure funding.

Transportation and Infrastructure

https://app.leg.wa.gov/billsummary?BillNumber=5800&Year=2025&Initiative=false