April 21, 2016
Pete Ricketts, governor of Nebraska, put his signature to the state’s Transportation Innovation Act, a bill that authorizes $450 million to improve the state’s transportation infrastructure. The law will earmark $50 million of the state’s cash reserve fund, and approximately $400 million in future state gas tax revenue for highway construction, bridge repair and transportation-related economic development projects.
The measure’s main component involves a transportation infrastructure bank to assist the State Department of Roads in completion of Nebraska’s 600-mile expressway system by 2033. Also part of the bill is $40 million for a matching-grant program to complete county bridge repair, and $20 million for transportation projects to entice manufacturers and other companies to relocate to – or expand in—Nebraska.