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H0581.....................................................by WAYS AND MEANS
HIGHWAYS - GARVEE - Amends existing law relating to highway transportation
projects and GARVEE bonding to revise provisions relating to certain debt
service and other bond-related expenses as a percentage of annual federal
aid highway apportionments; and to set forth requirements of the Idaho
Transportation Department relating to requests for GARVEE bonding
authority.
02/28 House intro - 1st rdg - to printing
02/29 Rpt prt - to Transp
03/07 Rpt out - rec d/p - to 2nd rdg
03/10 2nd rdg - to 3rd rdg
03/11 3rd rdg - PASSED - 42-28-0
AYES -- Andrus, Barrett, Bell, Block, Boe, Bradford, Chavez, Chew,
Clark, Hagedorn, Hart, Harwood, Henbest, Jaquet, Killen, Lake,
LeFavour, Loertscher, Luker, Marriott, Mathews, McGeachin, Mortimer,
Nielsen, Patrick, Pence, Raybould, Ringo, Roberts, Ruchti, Rusche,
Sayler, Shepherd(02), Shirley, Shively, Smith(24), Stevenson, Thayn,
Thomas, Trail, Wood(35), Mr. Speaker
NAYS -- Anderson, Bayer, Bedke, Bilbao, Black, Bock, Bolz, Bowers,
Brackett, Chadderdon, Collins, Crane, Durst, Eskridge, Henderson,
King, Kren, Labrador, Moyle, Nonini, Pasley-Stuart, Schaefer,
Shepherd(08), Smith(30), Snodgrass, Vander Woude, Wills, Wood(27)
Absent and excused -- None
Floor Sponsor - Smith(24)
Title apvd - to Senate
03/12 Senate intro - 1st rdg - to Transp
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]] Fifty-ninth Legislature Second Regular Session - 2008IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. 581 BY WAYS AND MEANS COMMITTEE 1 AN ACT 2 RELATING TO HIGHWAY TRANSPORTATION PROJECTS; AMENDING SECTION 40-315, IDAHO 3 CODE, TO REVISE PROVISIONS RELATING TO CERTAIN DEBT SERVICE AND OTHER 4 BOND-RELATED EXPENSES AS A PERCENTAGE OF ANNUAL FEDERAL-AID HIGHWAY APPOR- 5 TIONMENTS AND TO SET FORTH REQUIREMENTS OF THE DEPARTMENT OF TRANSPORTA- 6 TION RELATING TO REQUESTS FOR GARVEE BONDING AUTHORITY. 7 Be It Enacted by the Legislature of the State of Idaho: 8 SECTION 1. That Section 40-315, Idaho Code, be, and the same is hereby 9 amended to read as follows: 10 40-315. POWERS AND DUTIES -- FEDERALLY-FUNDED HIGHWAY PROJECT FINANCING. 11 (1) In order to address the increasing need for timely improvements to Idaho's 12 highway transportation infrastructure, the board may: 13 (a) Enter into agreements with the Idaho housing and finance association 14 in connection with the funding of highway transportation projects qualify- 15 ing for reimbursement from federal funds. 16 (b) Approve and recommend federal highway transportation projects to the 17 Idaho housing and finance association for financing by the association. 18 Such federal highway transportation projects shall be eligible for feder- 19 al-aid debt financing under chapter 1, title 23, United States Code, and 20 approval by the federal highway administration as an advanced construction 21 (AC) project thereunder. The board shall select and designate such trans- 22 portation projects to be funded with bond proceeds from the following list 23 of eligible projects: 24 ROUTE PROJECT DESCRIPTION 25 US-95 SH-1 to Canadian border 26 US-95 Garwood to Sagle 27 US-95 Worley to Setters 28 US-95 Thorn Creek to Moscow 29 US-95 Smokey Boulder to Hazard Creek 30 SH-16 Ext South Emmett to Mesa with connection to SH-55 31 SH-16 Ext I-84 to South Emmett 32 I-84 Caldwell to Meridian 33 I-84 Orchard to Isaacs Canyon 34 US-93 Twin Falls alternate route and new Snake River 35 crossing 36 SH-75 Timmerman to Ketchum 37 US-20 St. Anthony to Ashton 38 US-30 McCammon to Soda Springs 39 (c) On and after July 1, 2008, all allocations of GARVEE bond proceeds 40 shall be the sole responsibility and duty of the Idaho transportation 41 board. The legislature shall have authority to approve a total GARVEE bond 42 amount on an annual basis. However, the Idaho transportation board is 43 directed to allocate bond revenue only among the projects listed in sub- 2 1 section (1)(b) of this section. In making its funding allocation for proj- 2 ects, the board shall take into consideration: the cost of the project and 3 whether or not that project could be financed without bonding; whether the 4 project is necessary to facilitate the traffic flow on vital transporta- 5 tion corridors; and whether the project is necessary to improve safety for 6 the traveling public. On and after July 1, 2008, the board shall use due 7 care in selecting projects for bonding and shall balance and coordinate 8 the use of bonding with the use of highway construction moneys. 9 Notwithstanding the provisions of subsection (1)(b) of this section wherein 10 eligible projects are listed for selection and designation by the board, if 11 any of the designated projects are deemed to be ineligible by the board, the 12 board shall have the authority to replace those projects with other projects 13 listed in subsection (1)(b) of this section. 14 (2) Prior to issuance by the Idaho housing and finance association of any 15 bonds or notes to finance highway transportation projects, the board shall 16 certify to the association that sufficient federal transportation funds are 17 available to make any payments required for such bonds or notes. 18 (3) The board shall limit annual, total cumulative debt service and other 19 bond-related expenses as follows: 20 (a) In the 2006 legislative session for the fiscal year 2007 budget, 21 total cumulative debt service and other bond-related expenses on 22 federally-funded highway project financing shall be no more than twenty 23 percent (20%) of annual federal-aid highway apportionments. 24 (b) In the 2007 legislative session for the fiscal year 2008 budget, 25 total cumulative debt service and other bond-related expenses on 26 federally-funded highway project financing shall be no more than twenty 27 percent (20%) of annual federal-aid highway apportionments. 28 (c) In the 2008 legislative session for the fiscal year 2009 budget, 29 total cumulative debt service and other bond-related expenses on 30 federally-funded highway project financing shall be no more than twenty 31 percent (20%) of annual federal-aid highway apportionments. 32 (d)In the 2009 legislative session for the fiscal year 2010 budget,33total cumulative debt service and other bond-related expenses on34federally-funded highway project financing shall be no more than twenty35percent (20%) of annual federal-aid highway apportionments.36(e) In the 2010 legislative session for the fiscal year 2011 budget,37total cumulative debt service and other bond-related expenses on38federally-funded highway project financing shall be no more than thirty39percent (30%) of annual federal-aid highway apportionments.40(f)Beginning with the20112009 legislative session for the fiscal year 4120122010 budget, or for any year thereafter, thethirtytwenty percent 42 (320%) limit relating to total cumulative debt service provided for in 43 subsection (3)(c) of this section may be exceeded, but only by affirmative 44 action of both the house of representatives and the senate, and with the 45 approval of the governor. 46 (4) In the event the board selects and designates to be funded with bond 47 proceeds any of the transportation projects listed in subsection (1) of this 48 section, and prior to entering into agreements with the Idaho housing and 49 finance association as provided herein, the Idaho transportation department, 50 as part of its annual budget request prepared pursuant to section 67-3502, 51 Idaho Code, shall include a request for bonding authority as a separate item 52 of its budget request. This request for bonding authority shall include a list 53 of planned highway transportation projects to be financed with such bond 54 financing during the next succeeding fiscal year. 55 (5) By June 30 of each year, the board shall submit a report to the leg- 3 1 islature concerning projects currently under construction using the bond 2 financing as authorized by the provisions of this section, and shall include a 3 list of planned highway transportation projects to be financed with such bond 4 financing during the next succeeding fiscal year. 5 (6) In each year the department requests legislative authorization for 6 GARVEE bonding authority, such request shall include the specific location for 7 the project or projects to be financed with GARVEE bond proceeds and shall 8 include: a description of the project scope sufficiently detailed to provide a 9 reasonable understanding of what will be accomplished, thereby avoiding any 10 additions to such project or projects; timing for such projects, including 11 estimated dates to solicit and award bids and estimated dates to begin project 12 construction and completion; and estimated total costs of each project. No 13 GARVEE bond proceeds shall be used for any projects not listed in subsection 14 (1)(b) of this section.
STATEMENT OF PURPOSE
RS 18032
This legislation cleans up the GARVEE section of the code by
striking unnecessary and outdated portions which no longer
apply. It retains the original "Connecting Idaho"
corridors. It does not appropriate funds or designate
projects. It limits total cumulative debt service to 20% of
annual federal aid highway apportionments, which may be
exceeded by affirmative action of the legislature after
2009. It does set forth the parameters and guidelines for
all future GARVEE funding requested by Idaho Transportation
Department (ITD); requiring a specific dollar amount per
project(s) with a detailed plan toward project completion.
ITD picks the project(s) each year and the legislature makes
the final decision as to whether or not the project(s) go to
the Governor for final authorization.
FISCAL NOTE
There is no fiscal impact.
Contact
Name: Representative Leon E. Smith(24)
Phone: 332-1000
Representative JoAn Wood(35)
Representative Phil Hart
Representative Dean Mortimer
Representative Marv Hagedorn
Statement of Purpose/Fiscal Impact H 581