CRMCA NC Legislative Update
October 15, 2020
By Lexi Arthur
Build NC Bond: On October 6th, the N.C. Council of State approved a purchase of $700 million in Build NC bonds that will allocate funds to DOT to help meet immediate road repair and construction needs in North Carolina. The bonds approved by the Council of State are part of the $3 billion Build NC transportation bond package. The NC General Assembly passed the bond package (SB 758) in June 2018. The funds from the bonds will help NCDOT to pay for projects that have a regional impact. Repayment of the Build NC Bonds will come from the Highway Trust Fund, which has three primary revenue sources: highway use tax, motor fuel excise tax, and title and registration fees.
Highway Project Delays: A recent article highlights dozens of road and highway construction project delays in the Triangle in response to rising costs and lower revenue in the midst of COVID and a downturn in the economy. The delays range from routine repaving to new lane and bridge construction and overhauling highway interchanges. The changes are reflected in the most recent version of NCDOT’s 10-year construction plan (State Transportation Improvement Program), which was approved by the NC Board of Transportation earlier this month. The delays were necessary despite the recent issuing of $700 million in bonds for road construction. Board Chairman Mike Fox explained that the bond money will be used to complete projects that are already underway to help NCDOT stabilize its finances, but it doesn’t prevent delays in about 700 projects across the state.
Destination 2030 Coalition: CRMCA will participate in next week’s virtual meeting of the Destination 2030 Coalition, led by the NC Chamber of Commerce. Two of the General Assembly’s transportation leaders – Sen. Tom McInnis and Rep. John Torbett – will speak with the coalition about their priorities for the upcoming session and the future of transportation funding. We’ll continue to discuss the need for the business community to help solve our state’s transportation challenges and explore solutions.
Legislator Meetings: We’ve been holding virtual meetings with legislators from around the state to discuss issues our members are encountering, particularly regarding mechanics lien, funding for NCDOT, full depth reclamation, and concrete overlay. As we continue to work to identify the exact solutions for these matters, legislators’ responses have been positive and supportive. Several would like to remain engaged in the issues as we continue our internal and external conversations with stakeholders, and have offered to help on the legislative front.