Reference is to Printer's Date 6/2/15-H.
Amend the bill, as and if amended, SECTION 4, by adding the
following subdivision before the first subdivision within
Section 118:
/ 118.15. (SR:
Interstate Improvement Bond) There is appropriated from nontax
sources $50,000,000 to the Department of Transportation. The
Department of Transportation shall hold the $50,000,000 in a
separate and distinct account until a law has been enacted to
authorize the dedication and transfer of a recurring $50,000,000
of nontax revenue to the Department of transportation for the
purposes of bonding. Upon enactment of enabling legislation,
the Department of Transportation shall utilize the funds to
leverage approximately $500,000,000 in bonds. From the
bond proceeds:
(1)
$300,000,000 must be used for expansion and
improvements to existing mainline interstates and bridges
thereon;
(2)
$100,000,000 must be used for resurfacing and
rehabilitation projects on existing state-owned local roads and
bridges thereon; and
(3)
$100,000,000 must be used for resurfacing and
rehabilitation projects on existing non-interstate connector
roads and bridges thereon.
The department shall submit
all projects proposed to be financed through this provision to
the Joint Bond Review Committee for approval before financing
any proposed project.
/
Amend the bill further, SECTION 4, by striking Proviso 118.17 and inserting:
/ 118.17.
(SR: Supplemental Nonrecurring Revenue) (A)
The source of revenue appropriated in subsection
(B) is nonrecurring revenue generated from the following source:
(1)
$150,000,000 from Fiscal Year 2014-15
unobligated general fund revenue as certified by the Board of
Economic Advisors.
This revenue is deemed to
have occurred and is available for use in Fiscal Year 2015-16
after September 1, 2015, following the Comptroller
General's close of the state's books on Fiscal
Year 2014-15.
(B)
The State Treasurer shall disburse the following
appropriation by September 30, 2015, for the purpose stated:
U12
Department of Transportation
(A)
State-owned local roads
$75,000,000
(B)
Non-interstate Connector roads
$75,000,000
Of the funds appropriated for
state-owned local roads, the Department of Transportation shall
distribute the funds to each County Transportation Committee
based upon the county's population in comparison to the
population of the State.
The funds appropriated in
this proviso only may be expended for resurfacing and
rehabilitation projects on existing state-owned local roads and
existing non-interstate connector roads, and bridges thereon,
respectively.
Unexpended funds appropriated
pursuant to this subsection may be carried forward to succeeding
fiscal years and expended for the same purposes.
/
Renumber sections to conform.
Amend title to conform.