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OLYMPIA, Wash. -- The state Transportation Commission has approved a 2.5 percent increase in the tolls on the Highway 520 floating bridge.

The new rates approved Wednesday will take effect on July 1.

The commission says the new peak, weekday Good To Go! pass toll rate will be $3.80, and the new peak, weekday Pay By Mail toll rate will be $5.40.

The commission also says traffic and revenue are on track to provide $1.2 billion to help pay for the new floating bridge scheduled to open in July 2016.

The bridge crosses Lake Washington, connecting Seattle and Bellevue.

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