To amend the state Constitution regarding transportation financing. Currently, the Constitution allows the state to finance projects, but requires each debt to be paid off within 30 years. This resolution would extend the payoff deadline for transportation projects using a formula determined by the State Finance Committee, but cannot exceed 40 years. This resolution would amend the state Constitution if approved by two-thirds of the Legislature and a majority of the voters in the next general election.   Official Text and Analysis.

To amend the Constitution to allow the state to issue transportation related debt for terms of up to 40 years.