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Sound Transit urges 75‑year bond authority to accelerate projects; opponents warn of long‑term costs
Summary
Testimony on SB 6,148 split between Sound Transit, which said extended 75‑year maturities align with federal law and help deliver long‑lived assets, and opponents who said 75‑year bonds shift costs to future generations and risk higher servicing costs; committee discussion covered asset life, eligibility limits, and financing modeling.
The Senate Transportation Committee heard competing testimony on Senate Bill 6,148, which would raise the maximum term for regional transit authority bond issues from 40 years to 75 years, aligning state law with federal authority created in the 2021 Infrastructure Investment and Jobs Act.
Kelly Simpson, committee staff, told the committee the bill would allow Sound Transit and other regional transit authorities to issue debt for longer maturities; she noted that bonds issued with terms exceeding 40 years would make an RTA ineligible for regional mobility grants under current…
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