Financial Impact of I-985 -- UPDATED

The Office of Financial Management just released their fiscal note on I-985.

It shows that over five years, $668.6 million would be redirected from current projects and activities to congestion relief activities, or about $133.7 million annually. The fiscal note also estimates that over the same time period, it will cost the state about $324.6 million to implement I-985. This would leave about $344 million, which according to the language in I-985 would be available for projects that would reduce congestion.

Most of the cost to implement I-985 will occur in these early years and once completed would only need general O&M dollars; thus, significantly increasing the annual revenue available for the legislature to spend per the guidelines in the initiative.

As with most fiscal notes, there is also a critical review on the impact of shifting funds:

• Estimated revenue loss to cities from red light traffic camera infractions would be $40 million over five years.
• Not charging tolls during off-peak hours on SR-167 HOT lanes would result in a 33 percent loss of funds, or a total loss of $3.1 million over five years.
• Washington State transit agencies are estimated to lose about $20 million over five years in      federal transit funds due to the opening of carpool lanes to general traffic during non-peak periods.
• The Washington State Arts Commission would lose $500,000 over five years.
• The state general fund would be reduced by $620 million over five years. The general fund is used for education, public safety, social services and general government.

Washington Policy Center is conducting a more comprehensive look at I-985 and will release a full report in the coming days. In the mean time, here is a copy of OFM's analysis.

UPDATE: OFM tells me the document is the official fiscal note and is the version that will be transmitted to the Secretary of State for publication in the general election voters pamphlet. The word "draft" listed at the top should have been removed from the document before OFM sent it off.

Comments

[SouthernRoots]

"Estimated revenue loss to cities from red light traffic camera infractions would be $40 million over five years."

Isn't the goal of these cameras to reduce red light runnings and thus make the intersections safer? If they don't make the intersections safer, then all they are is another way to tax the stupid.

No government should plan on revenue from red light cameras.

[Pam]

Yes, the goal of red light cameras is to make intersections safer. Most cities have found that once drivers realize the cameras are there, the number of citations declines -- meaning City revenues from those citations fall. This is a good thing. Only a very foolish City would install red light cameras as a revenue generator. However, it does cost the City money to issue those citations. It is my understanding that police officers review each infraction captured on camera before a citation is mailed to the owner of the vehicle. Then there are the court costs associated with handling any citation. Under this initiative, cities would shoulder the expenses of issuing the citations but would not realize any revenue to offset those expenses. So why would a City continue to operate red light cameras?

[Joe Murray]

Memory tells me to be very cautious of estimates.
The voice for or against is not motivated to quality.
The after the fact data is our only concern - so to the estimators. The track record shouts forget the numbers its the thought that counts.
Cordially,

[Kirsten]

I've got to say that having traveled all over the world and the United States, Washington has some of the worst traffic congestion I've experienced. The worst part is that the state has ineffectively budgeted itself by placing other concerns ahead of priorities such as transit. With a faster moving transit system, businesses are able to keep up with demand and the public has less frustration and stress overall. Some of the most effective roadways I have come across are in the midwest and east coast. It's my opinion that our major road systems such as 167, I-405, and other major highways should be toll roads. Let the people who use these roads pay for them and not the rest of the public that does not. By using toll roads, people naturally starting carpooling to help on costs which in effect reduces polution and congestion.

If the state were run more like a business and not by bleeding heart liberals, then the budget could be dispersed more effectively and become beneficial to all involved and not just special interest groups.