Latest News

South Dakota readies road stimulus projects list

Feb, 19 2009

(USA)  --  South Dakota has a $115 million list of highway projects to finance with federal stimulus funds and could be in a position to collect money other states can't spend, a state transportation official says.

Transportation Secretary Darin Bergquist told a legislative committee on Wednesday that South Dakota's share of the stimulus package signed into law this week is $189 million for highway work. At least half of that money must be committed to projects within 120 days, and Bergquist said the state will more than meet that deadline.

"These projects are basically ready to go," he said of the $115 million list. He'll give that list to the state Transportation Commission at a meeting on Thursday in Pierre.

States that can't meet the 120-day deadline for obligating half of the stimulus money could lose some funds, Bergquist said. If that happens, the money returns to the federal government and is divided among states that did meet the deadline, he said.

"Call me greedy, I'll take the money, and I'll find a use for it," Bergquist said.

The Senate committee is crafting a funding package that will provide money for state road projects that aren't eligible for the federal funds. A bill containing a combination of license-plate fee increases and additions to the state gas tax will be considered on Friday. On Wednesday the panel killed a trio of other measures that contained proposals sponsors said could be included in the combination bill.

Among the measures killed was on that would have boosted the tax paid on the sale price of a vehicle from 3 percent to 4 percent. Myron Rau of the South Dakota Auto Dealers said the additional tax would come at a time when vehicle sales are at an all-time low.


By TERRY WOSTER









SOURCE:  www.forbes.com