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Colorado Transportation Finance and Implementation PanelOverviewFort Morgan,ColoradoSeptember 13, 2007
Transportation’s Quiet Crisis
$65 billion funding shortfall identified in 2030 Statewide Transportation Plan
$2.6 billion annual shortfall for CDOT
$600 million annual shortfall for Locals and transit
Why a “Quiet Crisis”? The nature of transportation finance is changing
fundamentally and on a large scale State gas tax last increased in 1991, Federal 1993
The change has occurred gradually and without much public notice
Burden is shifting to state and local governments SB 97-1 and HB 02-1310
Colorado is facing a crisis but not unlike other states and at Federal level
State Transportation Funding vs.
Colorado Construction Industry-Specific Inflation (Purchasing Power)
$0
$100
$200
$300
$400
$500
$600
$700
$800
96-'97 97-'98 98-'99 99-'00 00-'01 01-'02 02-'03 03-'04 04-'05 05-'06
Fiscal Year
Fu
nd
ing
(in
million
s)
CDOT share of HUTF S.B. 1997-001 H.B. 2002-1310 Inflation-adjusted
Panel Mission
To bring together a broad range of stakeholders to identify long term sustainable transportation programs and funding options for a 21st Century multimodal transportation system to support a vibrant economy and quality of life
Purpose of Panel in Addressing the Colorado Promise
Evaluate current spending practices and identify cost-effective investment strategies that support a statewide transportation vision;
Explore a variety of revenue streams that could support transportation and propose a strategy for increased investment and specific funding options; and
Examine a prioritized list of projects and recommend a process to implement infrastructure needs that enhance the economic vitality of the state, sustain our environment and maintain our quality of life.
Broad Perspectives Represented
Panel - 32 members Technical Advisory Committee – 20
members 7 Regional Meetings Major Organizations Recommendations by November 2007
Funding Options: User Fees
Motor fuel tax Registration fees License fees Tolling New wheels on the road fee Weight distance tax Hazardous violations fines Ports-of-Entry fees
Vehicle Miles Traveled (VMT) fee
Funding Options: General Tax
Income tax Severance tax Sales tax
General Sales on fuel Sales on vehicle repairs
Visitor tax Delivery tax
Evaluation Scenarios
Annual Thresholds $340 million - maintenance $500 million $1.5 billion $2.6 billion $3.6 billion
Evaluation Scenarios
Funding Strategies Short and long term mechanisms Legislative options Voter Approval Local options and distributions Transit allocations
Policy Discussion:Focus on Outcomes . . .
Transportation’s Relationship to . . . . Economic Development New energy economy Land use Tourism Education Affordable Housing Other economic drivers
Prioritization of State roadway system
Sustainable transportation funding mechanisms
Defining high performance transportation
Policy Discussion:Not outputs How to define Equity Ways to leverage
investment Enhance state’s role in
transit Environmental
considerations Accountability and
efficiency of the state
Timing
Half-way point Recommendations by
November 2007 2008
Legislative Session ballot
2009 Legislative Session ballot