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HF 2559

as introduced - 87th Legislature (2011 - 2012) Posted on 02/27/2012 01:13pm

KEY: stricken = removed, old language.
underscored = added, new language.
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Current Version - as introduced

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A bill for an act
 relating to transportation; regulating county state-aid highway funds; amending
Minnesota Statutes 2010, section 162.06, subdivision 6.

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

Section 1.

Minnesota Statutes 2010, section 162.06, subdivision 6, is amended to read:


Subd. 6.

County state-aid highway revolving loan account.

A county state-aid
highway revolving loan account is created in the transportation revolving loan fund. The
commissioner may transfer to the account the amount allocated under section 162.065.
Money in the account may be used to make loans. Funds in the county state-aid highway
revolving loan account may be used only for aid in the construction, improvement, and
maintenance of county state-aid highwaysnew text begin , and are not considered to be state funds for the
purpose of any statute or rule regulating the use of state funds for highway construction,
improvement, or maintenancenew text end . Funds in the account may not be used for any toll facilities
project or congestion-pricing project. Repayments and interest from loans from the county
state-aid highway revolving loan account must be credited to that account. Money in
the account is annually appropriated to the commissioner and does not lapse. Interest
earned from investment of money in this account must be deposited in the county state-aid
highway revolving loan account.