Bill > SB6225

This bill authorizes the issuance and sale of general obligation bonds by the state of Washington to fund transportation projects, with a total of $1.1 billion for general highway projects and an additional $400 million specifically for projects identified in the LEAP Transportation Document 2022-B that have experienced unexpected cost increases. The State Finance Committee will oversee the issuance and sale of these bonds, which are secured by the full faith and credit of the state and are primarily payable from state excise taxes on fuel and vehicle-related fees, as defined in the bill. The bill also amends existing laws to adjust the authorized amounts for certain transportation projects, including increasing the bond authorization for State Route 520 corridor projects to $2.45 billion, and sets expiration dates for the authority to issue certain unissued bonds. The proceeds from these bonds will be deposited into the "move ahead WA account" within the motor vehicle fund and will be used for project costs, bond anticipation notes, and issuance expenses.

Transportation and Infrastructure

https://app.leg.wa.gov/billsummary?BillNumber=6225&Year=2025&Initiative=false