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Hearing on bill to let I‑5 bridge bond account retain interest earnings
Summary
A bill allowing the I‑5 bridge replacement project's toll facility bond retirement account to retain its interest earnings was briefed; staff said the provision keeps interest in the account rather than reverting to the general fund and that it is included in the larger resources bill.
Committee staff briefed House Bill 2111 on Feb. 23, which would allow the Interstate 5 bridal replacement project toll facility bond retirement account to retain interest earnings generated while tolls are collected rather than transferring the interest to the general fund.
Haley Gamble (committee staff) said the account is a niche fund used by the treasurer to pay debt service and that the provision is included in the resources bill (Senate Bill 6352) discussed earlier in the session. No prime sponsor was in attendance for the staff briefing; Representative Fye later appeared and said the state treasurer's office brought the bill and that keeping interest earnings in the account benefits the bridge replacement project.
There was no testimony in opposition; the hearing record notes informational briefings and questions from committee members but no formal committee action at the hearing.
