Lawmakers Reach Deal on Transportation Funding

AUSTIN (AP) — Texas lawmakers have reached a deal to increase funding for roads and bridges, if voters approve a constitutional amendment in November 2014. Republican Senator Robert Nichols of Jacksonville said negotiators from the House and Senate hammered out the agreement Friday and only needed to fix a few details. Legislators agreed to a proposed constitutional amendment that would divert about $848 million in oil and gas revenues away from the state’s Rainy Day Fund. An accompanying law would set a minimum balance for the fund until the Legislative Budget Board takes control of it. Nichols said the money would only be spent on non-toll roads and bridges and could not be spent to pay off debt. The House and Senate are scheduled to meet again Monday to give final approval.