Program funding

The TIMED Program was originally established in 1989 by Act 16 of the Louisiana Legislature and endorsed by a vote of the people. The legislation included 16 major transportation projects throughout the state that are now incorporated into the state constitution.

To fund the Program through 2005, the legislation authorized a four cent-per-gallon tax to be levied on all gasoline, motor and special fuels. Additional legislation was passed in 1998 to extend the tax until all TIMED projects are complete and any bonds are repaid.

Under the original pay-as-you-go funding system, the Program would have taken many years to complete. Slow progress, a lack of matching revenue and an expected 2031 completion date prompted the Louisiana Bond Commission to accelerate TIMED construction by bonding out the remainder of the Program. A series of bond sales will occur through 2010.

TIMED bond sales have included:

1990 = $264 million
2002 = $275 million
2005 = $548 million
2006 = $1.1 billion