Legislation authorizing issuance of up to $450 million in bonds to accelerate completion of Nebraska's long-delayed, four-lane expressway system would generate economic activity while better positioning the state to compete and grow, Gov. Jim Pillen said Wednesday.
"We've really missed the boat," the governor told the Legislature's Revenue Committee, by lagging behind in completing the four-lane expressway system envisioned in the Build Nebraska Act authored by state Sen. Deb Fischer and approved by the Legislature in 2011.
Fischer is now a U.S. senator.
In terms of safety, economic development and connecting Nebraska communities, "this is an incredibly important investment," Pillen said as he testified in support of the bill.
"It's important for the state to be able to compete," he said.
Sen. Mike Moser of Columbus, author of the highway bond bill (LB706) and the senator who hails from Pillen's own community, said the proposal would spur economic development in the state.
The bill provides for up to $450 million in bonding authority and $35 million in annual debt service payments, along with provisions that no bonds would be issued after 2029 and all bonds would be paid in full by June of 2042, when the program would sunset.
Bryan Slone of Omaha, president of the Nebraska Chamber of Commerce and Industry, spoke in support of the bill, telling the committee that "highways are the lifeblood of business … critical to manufacturing, agriculture and transportation."
Bruce Bohrer, speaking for the Lincoln Chamber of Commerce, said highway infrastructure promotes economic development and growth.
Lynn Rex, executive director of the League of Nebraska Municipalities, noted that the bill would "complete the long-promised expressway system."
The proposal also had the endorsement of the Nebraska Association of County Officials.
There was no opposition testimony.
Reach the writer at 402-473-7248 or dwalton@journalstar.com.
On Twitter @LJSdon
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