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S.F. No. 1078 - Alternative Financing and Investment Pilot Transportation Project (First Engrossment)
 
Author: Senator Benjamin A. Kruse
 
Prepared By: Krista Boyd, Senate Fiscal Analyst (651/296-7681)
 
Date: May 10, 2011



 

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.

 

BB/KB:rer

 

 
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