CARSON CITY — About $87 million in Nevada taxes that could be parlayed into 10 times as much to pay for critical road improvements are ready to flow to the state Department of Transportation next year, but there are concerns the money could be diverted to other needs.
The Nevada chapter of the Associated General Contractors has asked the state Department of Transportation’s Board of Directors to work with the Legislature to ensure the revenue remains dedicated to the State Highway Fund.
An estimated 25,000 jobs could be created, if the money was used to sell bonds, said John Madole, executive director of the Nevada AGC. About $870 million could be generated for road projects in the next two-year budget under this option, he said.
“We think it’s important as the fiscal 2014-2015 budget building process begins, that policymakers are mindful of continuing the commitment made several years ago to improve funding for Nevada’s highways,” Madole said. “This funding infusion comes at a crucial time for Nevada, since the current ending fund balance in the State Highway Fund is now depleted to record low levels not seen in more than two decades.”