Governor Mike Parson has signed SB 262 into law, which will increase transportation funding for critical state and local infrastructure projects across the state of Missouri.
"With nearly $1 billion in unfunded transportation needs each year, we can no longer wait for another day or another generation. We must change course and address these problems head-on," Governor Parson said. "SB 262 provides vital revenue that will help us fund essential road and bridge projects all across the state. Quality roads and bridges increase the efficiency and safety of our roadways, invite travelers and business investment, and save Missourians money."
Missouri has the seventh largest transportation system in the nation but only ranks 45th in available revenue per road mile. Over the last 25 years, the state has not significantly increased funding streams for state or local transportation projects, while the cost to maintain Missouri roadways has continued to increase significantly.
SB 262 could increase transportation funding by more than $450 million once its provisions are fully implemented. An estimated $330 million per year would be available for the State Road Fund administered by the Missouri Department of Transportation (MoDOT), and nearly $125 million – approximately 30 percent of total revenue – would go directly to cities and counties for local transportation projects.