"At its core, the FASTER bill is about two fundamental things: jobs and safety," Gov. Ritter said at a signing ceremony attended by business leaders, local officials and transportation advocates. The ceremony was held near a bridge at Interstate 25 and
"With this bill, we'll be able to begin work on the many unsafe bridges and roads all across this state – work that has been neglected for far too long," Gov. Ritter said. "And at a time when the entire country is suffering from a recession, this legislation will let us save jobs, create jobs and help us get our economy moving again."
The legislation, Senate Bill 09-108, was sponsored by Sen. Dan Gibbs and Rep. Joe Rice. It is expected to generate about $252 million annually for transportation projects, including improvements to more than 100 structurally deficient and functionally obsolete bridges.
FASTER is the product of two years worth of work, begun in 2007 when Gov. Ritter convened a Blue Ribbon Transportation Panel to recommend solutions to
"I'm so glad we got FASTER through the process," Sen. Gibbs said. "For every person out there in
"FASTER is an important part of the solution to a huge problem," Rep. Rice said. "FASTER will protect and create thousands of jobs for Coloradans, and it will allow us to address some significant safety concerns, as we repair and rebuild hundreds of crumbling bridges and many miles of our rutted roads."
"Today is the day that
The Colorado Department of Transportation says the state has 115 bridges that are 75 years old, highway sections that are 75 to 100 years old and interstate sections that are up to 50 years old.
There are 125 structurally deficient bridges in poor condition. Forty percent of
"FASTER will create a framework that will allow us to build for the future," Gov. Ritter said. "Today marks the first step toward a responsible, 21st century funding formula for a modern 21st century transportation system."
FASTER SUPPORTERS
§ Metro North Chamber of Commerce
§ Colorado Counties Inc. (CCI)
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§ Progressive 15
§ Glenwood Springs Chamber of Commerce
§ Hispanic Contractors Association
§ Metro Mayors Caucus
§ Colorado Department of Transportation (CDOT)
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§ Move
§ I-70 Coalition
§ Economic Development Council of
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§ Ports-to-Plains
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§ Action 22
§ Colorado Fiscal Policy Institute
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§ City of
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§ Rocky Mountain Minority Contractors Association
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§ Transit
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§ 36 Commuting Solutions
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§ City of
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§ Regional Transportation Authority (RTD)
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§ Environment
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FASTER FACTS – VISIT WWW.COLORADOFASTER.COM FOR MORE INFO:
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§ Like states all across the country,
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What FASTER Will Accomplish:
§ FASTER is projected to generate approximately $252 million annually for transportation improvements. The impact to the average driver will be about $2.60 a month in the first year and $3.50 a month when fully implemented in 2012.
§ FASTER establishes a Statewide Bridge Enterprise that begins the process of funding maintenance and repair of
§ Phased in over three years, the bridge fund will build toward a $100 million annual investment in bridge improvements.
State, Local and Private Collaboration:
§ FASTER establishes a High-Performance Transportation Enterprise to encourage innovative financing strategies, including certificates of participation, public-private partnerships, operating concession agreements, user-fee financing and design/build contracting.
§ At full implementation, FASTER annually allocates $150 million to state and local road-safety projects based on the existing distribution formula of 60 percent to the state, 22 percent to counties and 18 percent to municipalities.
§ FASTER gives veto authority over proposed public highway user-fees by requiring 100 percent approval of federal, state and impacted local governments before establishing a highway user-fee or congestion-based tolling.
§ $5 million of the funds will be allocated to the State Transit and Rail Fund proposed in SB09-94 (Williams/Levy) for grants to local governments for local transit projects.
§ Allows Regional Transportation District to go to the ballot without legislative approval.
Efficiency and Accountability:
§ FASTER brings private sector professional contractors, engineers and others with relevant expertise together with CDOT to form an Efficiency and Accountability Committee to identify financial and operational efficiencies within the Department.
§ FASTER requires CDOT's executive director to report annually to the legislature on Committee activities and implementation recommendations.
FASTER's Primary Funding Components:
Daily Car Rental Fee
§ Requires rental car companies to pay a $2 daily car rental fee.
Weight-Based Vehicle Registration Fee Increase and Exemptions
§ Because vehicle weight disproportionately affects road and bridge deterioration, FASTER establishes the following fee schedule according to vehicle weight. The new fees will be imposed on registrations starting July 1, 2009, and will average $41 for new registrations when fully phased in over three years.
| Fee Schedule | ||||
Vehicle Weight | Bridge Safety Fee | Road Safety Fee | Total | ||
| 2009-2010 | 2010-2011 | 2011-2012 | | 2011-2012 |
Less than 2,000 lbs. | $6.50 | $9.75 | $13.00 | $16.00 | $29.00 |
Between 2,000 and 5,000 lbs. | $9.00 | $13.50 | $18.00 | $23.00 | $41.00 |
Between 5,000 and 10,000 lbs. | $11.50 | $17.25 | $23.00 | $28.00 | $51.00 |
Between 10,000 and 16,000 lbs. | $14.50 | $21.75 | $29.00 | $37.00 | $66.00 |
Greater than 16,000 lbs. | $16.00 | $24.00 | $32.00 | $39.00 | $71.00 |
NOTES: The Bridge Safety fee is phased in over three years. More than 80 percent of all vehicles registered in | |||||
