SF 2544

1st Engrossment - 86th Legislature (2009 - 2010) Posted on 03/04/2010 11:45am

A bill for an act
relating to highways; modifying provisions relating to transportation projects;
amending Minnesota Statutes 2008, section 174.02, by adding subdivisions.

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

Section 1.

Minnesota Statutes 2008, section 174.02, is amended by adding a
subdivision to read:

new text begin Subd. 8. new text end

new text begin Alternative financing and investment in transportation projects. new text end

new text begin (a)
The commissioner may enter into agreements with governmental or nongovernmental
entities, including private and nonprofit entities, to finance or invest in transportation
projects, including repayment agreements subject to the availability of state money or
other dedicated revenue or resources, with the approval of the commissioner of Minnesota
Management and Budget.
new text end

new text begin (b) Beginning August 1, 2011, and every subsequent year on August 1, 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, and to the Legislative Reference Library, an electronic listing of all agreements
executed under this subdivision. The listing must identify each agreement, the contracting
entities, contract amount, duration, and any repayment requirements.
new text end

Sec. 2.

Minnesota Statutes 2008, section 174.02, is amended by adding a subdivision
to read:

new text begin Subd. 9. new text end

new text begin Federal financial program authority. new text end

new text begin The commissioner may apply
for and receive financial assistance under the Transportation Infrastructure Finance and
Innovation Act of 1998 (TIFIA), United States Code, title 23, chapter 6, or through other
federal transportation loan, grant, or credit assistance programs. The assistance may
include but is not limited to loans, loan guarantees, and lines of credit. The commissioner
may enter into agreements to repay the financial assistance subject to the availability of
state money or other dedicated revenue or resources, with the approval of Minnesota
Management and Budget.
new text end