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JBC moves $71.4M from multimodal options fund to general fund amid budget balancing; committee trims long-term transfer schedule
Summary
Facing budget pressure, the Joint Budget Committee on March 17 transferred $71.4 million of uncontracted awards from the Multimodal Options Fund back to the general fund and adjusted long-term transfer schedules to the state highway fund to help balance the FY 2025-26 budget.
The Joint Budget Committee on March 17 approved a series of budget-balancing changes affecting the Multimodal Options Fund (MMOF) and the Department of Transportation.
Michelle Curry, JBC staff, reported that roughly $75 million in MMOF awards had been made to local entities but not yet contracted; many awards were to local or regional transportation projects that had not started. Because the money remained uncontracted, the committee agreed it could be reclaimed to support current-year general fund needs. After discussion about potential impacts on local projects…
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