HF 1378

as introduced - 87th Legislature (2011 - 2012) Posted on 04/05/2011 10:20am

A bill for an act
relating to transportation; providing for alternative financing and investment in
transportation projects; amending Minnesota Statutes 2010, section 174.02, by
adding a subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2010, section 174.02, is amended by adding a
subdivision to read:

new text begin Subd. 9. new text end

new text begin Alternative financing and investment in transportation projects. new text end

new text begin (a)
The commissioner may enter into agreements with governmental or nongovernmental
entities, including private and nonprofit entities, to finance or invest in transportation
projects, including repayment agreements, subject to (1) the availability of state money
or other dedicated revenue or resources and (2) the approval of the commissioner of
management and budget.
new text end

new text begin (b) The commissioner shall submit to the chairs and ranking minority members of
the house of representatives and senate committees having jurisdiction over transportation
policy and finance, a listing of all agreements executed under this subdivision. The listing
must identify each agreement, the contracting entities, contract amount, duration, and any
repayment requirements. The listing may be submitted electronically, and is subject
to section 3.195, subdivision 1.
new text end

new text begin (c) The commissioner may only use the authority granted under this subdivision
for one pilot project.
new text end