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Indiana House OKs highway bill

The Indiana House passed a bill Feb. 5 that would authorize the state Transportation Department to borrow against future federal highway dollars to pay to get projects jump-started now.

House lawmakers changed the bill to limit the amount available to pay off bonds to half of any future increase in federal funding. Previously, HB1446 would have permitted up to $60 million a year in federal funds to go toward paying off the loan, regardless of the federal contribution.

“The reason for this bill is to take a look at future highway funds and to be able to issue bonds at this particular time in anticipation of receiving those highway funds at a future date,” bill sponsor Rep. Trent Van Haaften, D-Mount Vernon, told local media.

The measure, which is favored by Gov. Joe Kernan, passed the House by a 67-30 vote. It now moves to the Senate.

Senate Finance Chairman Larry Borst, R-Greenwood, has said he will give his support to any bonding bill only if INDOT specifically spells out which projects it will fund.

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