LINCOLN, Neb. (AP) A bill that would allow Nebraska to issue bonds to pay for road projects has advanced out of a legislative committee.
The Revenue Committee on Friday approved a scaled-down version of the proposal for debate in the full Legislature. The measure would allow Nebraska to borrow up to $200 million, half the amount originally proposed.
Committee members proposed a requirement for a fixed, 5 percent interest rate. They also recommended that the borrowing take place in the next three years, while interest rates are low.
Senator Annette Dubas of Fullerton says she introduced the bill to quicken the pace of projects that have faced years of delay. Nebraska cities and counties already rely on bond funding to pay for projects, as do 48 other states.