SF 1078

1st Engrossment - 87th Legislature (2011 - 2012) Posted on 03/06/2012 02:48pm

A bill for an act
relating to transportation; providing for alternative financing and investment in a
pilot transportation project; 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 a pilot transportation
project. new text end

new text begin (a) The commissioner may select one pilot transportation project on the trunk
highway system to implement the authority granted in this subdivision. In connection
with this pilot project, the commissioner may enter into agreements with governmental
or nongovernmental entities, including private and nonprofit entities, to finance or invest
in the transportation project, including repayment agreements. An agreement under this
subdivision is 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 pilot project is subject to transportation planning, programming, and
procurement requirements. Use of this subdivision must not result in the delay of any
project programmed in the statewide transportation improvement program.
new text end

new text begin (d) This subdivision does not preempt any other statute or provide any new toll
facility authority or design-build contracting authority.
new text end

new text begin (e) Any repayment agreement under this subdivision must comply with all applicable
debt and other financial policies and requirements.
new text end