Wyoming proposal would allow mineral trust loans for highway construction

The state treasurer would be allowed to lend money to the Wyoming Department of Transportation for highway construction. Up to $250 million would come from the permanent Wyoming mineral trust fund. Repayment would come from unspent, uncommitted money in the strategic investments and projects account. The State Loan and Investment Board would have to approve the loans, and the Transportation Commission would have to approve the highways. The treasurer would set a fixed interest rate capped at 2.5%. Annual principal repayments would equal the smallest of $50 million, the remaining principal, or the available, uncommitted project account balance. Interest would be paid in addition. The Transportation Commission would direct available federal highway safety money to approved highway construction. Loan authority would last through June 30, 2030. Repayment transfers would begin June 30, 2027 and occur each June 30 until principal and interest were repaid.

The listed road projects would be authorized for planning, design, and construction using money available through the highway loan program. Projects include passing lanes on U.S. 20 from Casper to Thermopolis, widening U.S. 287 from Laramie to Colorado to four lanes and Wyoming 59 from Wright to Gillette to five lanes, and a paved road north of Interstate 80 from Rock Springs to Green River. The Transportation Commission would have to approve the projects. Passing lanes would go only where the Wyoming Department of Transportation finds them appropriate after traffic studies.

A 15-member task force would study interstate traffic, road wear, and ways to pay for possible solutions. The study would focus on Interstate 80 and consider added lanes and paid rail transport of commercial vehicles. Studying these options would not itself require truck fees or rail transport. The group would include six lawmakers, three state officials, and six public members representing local governments and industries. The general fund would provide $25,000 to the Legislative Service Office for lawmakers' payments and other task force expenses, plus $25,000 to the governor's office for eligible members' travel and daily allowances. Both amounts could be used only for their stated task force purposes. Unspent, uncommitted money would return as required by law on June 30, 2028. The task force would report by July 1, 2027 and end November 1, 2027. Its funding would run from the act's effective date through June 30, 2028.