Major funding changes are being considered – including the reduction of your local dollar match requirement from 50 to 20 percent, and the state is increasing the funding levels from 50 to 80 percent. To be eligible you need to get ready and plan for road improvements. Better yet, it’s time get your Transportation Asset Management (TAM) Plan approved by the Indiana Department of Transportation (INDOT).
A long-term infrastructure spending proposal, that could generate $1.2 billion per year for the next two decades, is going through a final scrubbing by the Indiana Senate.
A 10-cent increase in the gas tax, special fuel and motor carrier surcharge taxes along with a new $15 annual fee on all vehicles and a $150 annual fee on Indiana registered electric vehicles are expected to give Cities and Towns a sustainable infrastructure plan without creating debt for future generations.
The transportation plan, House Bill 1002, is a major overhaul of the state’s outdated road funding formula, according to the bill’s author Rep. Ed Soliday.
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