With the Tennessee General Assembly having approved a major new transportation project funding package, Gov. Bill Haslam and state Department of Transportation Commissioner John Schroer unveiled a three-year program that
uses the new revenue to begin tackling the project backlog.
Lawmakers completed the bill April 24 and Haslam signed it into law two days later.
"The three-year program is more robust than previous years," the Haslam and Schroer announcement said, due to funding increases that are projected to raise an additional $150 million for the 2018 fiscal year that begins July 1.
That increase, combined with a $120 million repayment to the highway fund that the law also provides, "provides the necessary funds to move several backlogged and new transportation projects forward in the first year of the program."
Haslam said the new funding measure – a version of which he proposed after the governor and Schroer built up support in a series of statewide meetings on project needs with local officials – is "a comprehensive, conservative and responsible plan that directly addresses how we fund our roads and bridges for the first time in 30 years.
"Many of these projects would not have moved forward for several years without this additional infrastructure investment," Haslam said. "With this additional funding, TDOT can keep our transportation network safe, reliable and debt-free for the next generation of Tennesseans while spurring economic growth in communities across the state."
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