HF 1232

1st Engrossment - 87th Legislature (2011 - 2012) Posted on 03/24/2011 12:06pm

A bill for an act
relating to capital investment; modifying certain terms and conditions for
the Central Corridor Light Rail Transit project; cancelling appropriations and
reducing corresponding bond sale authorizations; requiring general fund debt
service savings; proposing coding for new law in Minnesota Statutes, chapter
473.

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

Section 1.

new text begin [473.4041] CENTRAL CORRIDOR LIGHT RAIL TRANSIT
PROJECT; SUPPLEMENTAL ENVIRONMENTAL IMPACT STATEMENT.
new text end

new text begin Subdivision 1. new text end

new text begin Suspension of construction. new text end

new text begin Notwithstanding section 473.3999,
or any other law to the contrary, the Metropolitan Council shall suspend all construction
and equipping of the Central Corridor Light Rail until the Metropolitan Council has
supplemented the final environmental impact statement to address the loss of business
revenues as an adverse impact to the construction of the Central Corridor Light Rail
Transit project.
new text end

new text begin Subd. 2. new text end

new text begin Supplemental environmental impact statement; funding. new text end

new text begin No funds of
the Metropolitan Council appropriated, allocated, encumbered, or otherwise authorized for
use for the Central Corridor Light Rail Transit project for any of the purposes authorized
in section 473.3999 may be used by the Metropolitan Council to meet the requirements of
this section. Funds received from the Federal Transit Authority, or other federal funds,
must be used to complete the supplemental environmental impact statement.
new text end

new text begin Subd. 3. new text end

new text begin Deadline for federal approval. new text end

new text begin Notwithstanding the provisions of this
section, if the Federal Transit Authority has not agreed to partner with the Metropolitan
Council in constructing the Central Corridor Light Rail Transit project by April 1, 2011,
all construction of the project must be halted.
new text end

new text begin EFFECTIVE DATE; APPLICATION. new text end

new text begin This section is effective the day following
final enactment and applies in the counties of Anoka, Carver, Dakota, Hennepin, Ramsey,
Scott, and Washington.
new text end

Sec. 2. new text begin CANCELLATIONS; BOND SALE AUTHORIZATIONS REDUCED.
new text end

new text begin Subdivision 1. new text end

new text begin 2006; rail service improvement program. new text end

new text begin The uncommitted
amount of the appropriation in Laws 2006, chapter 258, section 16, subdivision 6, for the
rail service improvement program, estimated to be $2,000,000, is canceled. The bond sale
authorization in Laws 2006, chapter 258, section 25, subdivision 1, is reduced by the
same amount.
new text end

new text begin Subd. 2. new text end

new text begin 2008; DNR. new text end

new text begin The uncommitted amount of the appropriation in Laws 2008,
chapter 179, section 7, subdivision 29, as amended by Laws 2009, chapter 93, article 1,
section 41, for a walking path in Clara City, estimated to be $225,000, is canceled. The
bond sale authorization in Laws 2008, chapter 179, section 27, subdivision 1, is reduced
by the same amount.
new text end

new text begin Subd. 3. new text end

new text begin Must not obligate bond appropriations. new text end

new text begin No money may be committed,
encumbered, or spent for a project included in this section. Notwithstanding the
cancellation amounts listed in this section, the amount canceled for each project listed
in this section, and the corresponding bond sale authorization reduction, is the amount
actually uncommitted as of July 1, 2011.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end

Sec. 3. new text begin GENERAL FUND DEBT SERVICE SAVINGS.
new text end

new text begin The commissioner of management and budget must determine that the amount
appropriated from the general fund under Minnesota Statutes, section 16A.641, subdivision
10, during fiscal years 2012 and 2013 is at least $70,000,000 less than the amount in
the February 2011 forecast. The commissioner must determine this amount, taking into
account any savings resulting from total general obligation bond sale authorizations
enacted during the 2011 legislative session that are less than the amount assumed in the
February 2011 forecast, bond appropriation cancellations and corresponding bond sale
authorization reductions enacted during the 2011 legislative session, savings achieved by
the sale and issuance of refunding bonds during the biennium, and, if necessary, the delay
or cancellation of other bond-funded projects. The commissioner must issue and sell
refunding bonds for state general obligation bonds that are eligible for refunding under
federal tax laws if the interest rate savings to the state are greater than the costs associated
with the issuance and sale of the refunding bonds. If necessary, the commissioner must
delay the issuance and sale of general obligation bonds for projects or make additional
cancellations and corresponding bond sale authorization reductions.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end