Section 1 authorizes the commissioner to oversee a transportation pilot project using alternative financing and investment authority.
Paragraph (a) allows the commissioner to select one pilot project and enter
into agreements with public or private entities to finance or invest in the project
or for repayment. Agreements are subject to availability of funds and approval
of the Commissioner of Management and Budget.
Paragraph (b) directs the commissioner to submit to the legislative Transportation
Committees, a list of agreements executed under this subdivision.
Paragraph (c) subjects the pilot project to transportation planning, programming,
and procurement requirements and provides that a project in the Statewide Transportation
Improvement Program (STIP) may not be delayed for the pilot project.
Paragraph (d) subjects this authority to other statutes, specifying that it does not
provide new toll facility authority or design-build contracting authority.
Paragraph (e) requires a repayment agreement to comply with all applicable debt
and financial policies and requirements.