Prop 1 passes

AUSTIN — Texas voters approved a ballot referendum taking billions of dollars from the state’s Rainy Day Fund for roads and transportation infrastructure projects.

With 74 percent of precincts reporting statewide, Proposition 1 had received 80.11 percent of the votes (more than 2.7 million), while those against the road funding mechanism had totaled a little more than 671,000 (19.88 percent).

Tuesday night’s passage of Proposition 1 creates a constitutional amendment that diverts half the funds that flow into state cash reserves and instead sends them to the state highway fund.

Booming oil and gas industries have bolstered the Rainy Day Fund, now worth about $9 billion.

The amendment means up to $1.7 billion for roads the first year. Its value will fluctuate later depending on oil and gas revenues.

Transportation officials have suggested that because of the state’s growing population at least $4 billion in annual spending will be required just to maintain current traffic levels on jammed Texas roads. But supporters say the measure’s a good start.