Indiana Gov. Mike Pence has signed into law legislation that will provide more than $1.2 billion in funding for road and bridge preservation projects. State legislators approved the legislation March 10.
“I’m pleased to sign these bills that commit more than $1 billion in state and local infrastructure maintenance and fully funds our regional cities initiative,” Pence says. “While our roads and bridges rank above the national average, Hoosiers know that roads mean jobs. These bills make clear our commitment to further improving the Crossroads of America and will spur economic development projects and improve the quality of life in regions across our state.”
Provisions from the two bills are as follows.
House Enrolled Act 1001 provides:
- $328 million over two years pulled from excess reserves and the Major Moves 2020 program
- $186 million in state reserves over two years
- $277 million over four years from redirecting additional 1.5 cents of the gasoline tax phased in over two years, with $100 million available each year going forward
- $42 million for the Regional Cities initiatives to make sure the North Central, Northeast and Southwest portions of Indiana receive state funding.
Senate Enrolled Act 67 provides:
- $430 million from the Local Options Income tax reserve act