Senate Bill 260 would provide comprehensive funding streams for Colorado to accelerate vehicle electrification and modernize the state’s transportation infrastructure.
DENVER, May 13, 2021 — Today, national business group Advanced Energy Economy (AEE) announced its support for Colorado’s comprehensive transportation funding legislation, Senate Bill 21-260*. Approved by the Senate Finance Committee and scheduled for a second Senate Appropriations Committee hearing and likely vote tomorrow, SB 260 calls for investing over $730 million over the next decade to accelerate Colorado’s zero-emission vehicle market.
“SB 260 aligns the state’s transportation planning with its economic recovery and pollution reduction goals. With its proposed portfolio of complementary investments and revenue-generating strategies, this bill can propel the state toward the modern, reliable transportation system that all Coloradans deserve,” said Emilie Olson, principal at AEE.
“AEE commends the bold and diligent leadership from Senator Faith Winter and Representative Matt Gray, Senate Majority Leader Steve Fenberg, House Speaker Alec Garnett, and the Governor’s Office in bringing this timely package forward,” said Olson. “In particular, we appreciate SB 260’s commitment to transformative investments that support the electrification of ride-hailing fleets, delivery trucks, transit and school buses, and personal vehicles that Coloradans depend on. Stable, multi-year funding is vital to accelerating Colorado’s zero-emission vehicle market and modernizing the state’s transportation system.”
The bill creates new state enterprises with dedicated funding to develop the modernized infrastructure needed to support the widespread adoption of electric vehicles, including both private vehicles and public and private fleets.
“Colorado’s electric vehicle market is primed for continued expansion thanks to the landmark advanced transportation policies approved by the legislature in recent years, recognizing that there is a clear and compelling policy and business case for accelerating the deployment of zero-emission vehicles and supporting infrastructure,” said Olson. “SB 260 builds on this foundation and sends an even stronger market signal so that fleets and consumers everywhere in the state can benefit from a range of new EV offerings coming to market at increasingly affordable prices. In addition, doubling down on public investment in accessible vehicle charging equipment presents a significant economic recovery and workforce development opportunity by putting Coloradans to work in good paying, high quality infrastructure jobs.”
*Note: AEE offers free, complimentary access to its PowerSuite online platform tracking all federal and state energy legislation and regulatory filings, plus RTO/ISO policy action, to credentialed media. Sign up for a free trial and contact Monique Hanis (email@example.com) for permanent media access.