BOISE, Idaho (KIFI) – The Idaho Transportation Board approved a plan to issue bonds as a part of Governor Brad Little’s $1.6 billion “Leading Idaho” initiative that passed in House Bill 362 in 2021.
The initiative focuses on major safety and expansion projects across the state in the next eight years.
The board approved the plan during its regular monthly business meeting Thursday in Boise.
“This is another important step forward in the Governor’s funding initiative that will chip away at some needs in corridors across the state,” Idaho Transportation Board Chairman Bill Moad said. “The transportation board wants the department to continuously advance additional work for any future state or federal funding opportunities. Our goal is to put all funding sources to work as quickly as possible.”
The first series of bonds will be issued in the next few months to pay for the expansion of Idaho State Highway 16 and US-20/26 (Chinden Boulevard). The board will announce what other projects could be approved in the first bond series in the near future.
In order to address the state’s rapid growth, the legislature passed a historic transportation revenue package that Governor Little signed in May 2021. House Bill 362 raised the percentage of sales tax going towards the Transportation Expansion and Congestion Mitigation (TECM) fund from 1% to 4.5%, with a guaranteed $80 million per year dedicated to address safety and capacity needs on the highway system across the state.