John G. Wetzler: When will state repay the $2.5 billion it borrowed from gas tax?
In 2006, Proposition 1A (the “Transportation Investment Fund”) was passed by voters. It prohibited the legislature and governor from using gas sales-tax revenues for any purpose other than transportation or transit improvements but authorized “loans” in the case of severe state fiscal hardship. Within three years, it was required that such loans would be repaid with interest.
During the state’s recent fiscal crisis, about $2.5 billion was diverted from transportation projects.
John G. Wetzler, Modesto
This story was originally published February 4, 2016 at 2:03 PM with the headline "John G. Wetzler: When will state repay the $2.5 billion it borrowed from gas tax?."