Tag: lockbox

Transportation fund ‘lockbox’ sent to voters

Voters next year will be asked to approve a constitutional amendment creating a “lockbox” to prevent raids on the Transportation Trust Fund for other purposes, but Republican opponents said the measure was a sham that would provide little protection. The measure provides that money can only be taken out of the Transportation Trust Fund after a three-fifths vote of both houses of the Maryland General Assembly once the governor has declared a state of “fiscal emergency.”

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Gas tax bill approved by Senate committee

A controversial gas tax hike already passed by the House of Delegates was approved by a Senate committee Thursday, moving it one step closer to becoming law. The committee also approved a constitutional amendment requiring three-fifths votes in both houses to use transportation money for other purposes, a so-called lockbox.

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Lockdown for transportation trust fund examined, questioned

A constitutional amendment that would lock down the money in the transportation trust fund was supported by lawmakers, local officials, business people and petroleum lobbyists – but financial analysts and some delegates questioned why such a measure is needed.

The bill, proposed in the House by Del. Susan Krebs, was debated in front of the House Appropriations Committee on Tuesday afternoon. Krebs, a Carroll County Republican, said that there are myriad transportation needs in the state, and not always enough money to make them happen. Proceeds of the transportation trust fund, which was created in 1971, are meant to be spent solely on transit needs.

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