SF 1775

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to highways; authorizing transfers of money 
  1.3             in the county state-aid highway fund between the 
  1.4             county turnback account and the construction account 
  1.5             in certain circumstances; amending Minnesota Statutes 
  1.6             1996, section 161.082, by adding a subdivision. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Minnesota Statutes 1996, section 161.082, is 
  1.9   amended by adding a subdivision to read: 
  1.10     Subd. 3.  [TRANSFERS TO TURNBACK ACCOUNT.] (a) Whenever a 
  1.11  county submits plans for a project to be funded from the county 
  1.12  turnback account and the commissioner determines that the 
  1.13  project would be approved for such funding except for 
  1.14  insufficient money in the county turnback account, the 
  1.15  commissioner may transfer from the unencumbered balance of the 
  1.16  construction account in the county state-aid highway fund an 
  1.17  amount sufficient to pay the costs of the project. 
  1.18     (b) The commissioner may make a transfer under paragraph (a)
  1.19  only if the commissioner determines that the transfer would not 
  1.20  reduce the unencumbered balance of the construction account in 
  1.21  the county state-aid highway fund to less than $50,000,000. 
  1.22     (c) Not later than ten years after any transfer under 
  1.23  paragraph (a), the commissioner shall transfer from the county 
  1.24  turnback account to the construction account in the county 
  1.25  state-aid highway fund an amount sufficient to repay the amount 
  1.26  transferred under paragraph (a). 
  2.1      Sec. 2.  [EFFECTIVE DATE.] 
  2.2      Section 1 is effective July 1, 1997.