Bill > SB6225

This bill authorizes the issuance of $800,000,000 in general obligation bonds by the state of Washington to fund highway projects and improvements, including location, design, right-of-way acquisition, and construction. The State Finance Committee, a body responsible for managing state debt, will oversee the sale and retirement of these bonds, which are to be repaid using revenue from state excise taxes on fuel and vehicle-related fees, such as license fees, as defined in Title 46 RCW. The bill also amends existing laws to adjust the authorized amounts for other transportation bond projects, including increasing the authorization for State Route 520 corridor projects to $2,450,000,000, maintaining the $15,000,000 authorization for district headquarters facilities, increasing the authorization for selected interstate and highway improvements to $100,000,000, and adjusting the authorization for public-private transportation initiatives to $25,625,000. Additionally, it sets a June 30, 2026, expiration date for the authority to issue any unissued bonds under certain existing authorizations. The bill declares an emergency, meaning it takes effect immediately upon approval.