The bill proposes to transfer the responsibilities for the transportation revenue forecast for the transportation budget from the current framework to the economic and revenue forecast council. Key amendments include the restructuring of the council's membership to include specific representatives from the transportation committees of both the Senate and House, as well as the director of the department of licensing. The council will now have the authority to prepare and approve an official transportation revenue forecast starting with the September 2024 forecast, which will encompass various transportation-related revenues such as taxes, fees, and tolls.

Additionally, the bill amends existing laws to clarify the voting requirements for council decisions, increasing the number of affirmative votes needed for certain actions from five to eight. It also establishes that the council must oversee the preparation of both economic and transportation revenue forecasts, ensuring that all forecasts are based on the most recent economic data. The bill repeals a previous statute related to the study of transportation-related funds, streamlining the forecasting process and enhancing legislative input in the preparation of these forecasts.

Statutes affected:
Original Bill: 82.33.010, 82.33.040