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SF 3657 Senate Long Description

Relating to highway improvements; allowing payment of trunk highway bonds and interest from any money transferred to the Minnesota trunk highway bond account in the state bond fund; providing for annual gasoline tax rate adjustment determination by the commissioner of finance in consultation with the commissioner of transportation (DOT) for reporting to the commissioner of revenue, requiring the commissioner of revenue to annually recompute and publish the rate of the gasoline excise tax, requiring revenue credited to the trunk highway fund from the rate adjustment to be credited to the trunk highway bond account; directing the commissioner of finance on recommendation of the commissioner of transportation to issue trunk highway bonds, limits, requiring the deposit of proceeds from the bonds in a separate bond proceeds account in the trunk highway fund; appropriating money to the commissioner of transportation from the bond proceeds account for reconstruction and replacement of key bridges on the state trunk highway system, for construction, improvement and maintenance of the interregional corridor system, for improvement of highways classified as bottlenecks by the commissioner and for acquisition of properties necessary to locate, construct, reconstruct, improve and maintain the trunk highway system, requiring the commissioner to demonstrate to the commissioner of finance the cost effectiveness of the proposed use of debt financing to accelerate the projects before using the appropriation (mk)