Print Friendly HOUSE BILL NO. 697
– GARVEE projects, list revised
HOUSE BILL NO. 697
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H0697.....................................................by WAYS AND MEANS
GARVEE PROJECTS - Amends existing law relating to powers and duties of the
Idaho Transportation Board and federally-funded highway project financing
(GARVEE) to delete a project from the list of projects from which the board
shall select and designate transportation projects to be funded with bond
04/02 House intro - 1st rdg - to printing
Rpt prt - to Transp
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-ninth Legislature Second Regular Session - 2008
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 697
BY WAYS AND MEANS COMMITTEE
1 AN ACT
2 RELATING TO POWERS AND DUTIES OF THE IDAHO TRANSPORTATION BOARD AND FEDERALLY-
3 FUNDED HIGHWAY PROJECT FINANCING; AMENDING SECTION 40-315, IDAHO CODE, TO
4 DELETE A PROJECT FROM THE LIST OF PROJECTS FROM WHICH THE BOARD SHALL
5 SELECT AND DESIGNATE TRANSPORTATION PROJECTS TO BE FUNDED WITH BOND PRO-
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
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-
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,
33 total cumulative debt service and other bond-related expenses on
34 federally-funded highway project financing shall be no more than twenty
35 percent (20%) of annual federal-aid highway apportionments.
36 (e) In the 2010 legislative session for the fiscal year 2011 budget,
37 total cumulative debt service and other bond-related expenses on
38 federally-funded highway project financing shall be no more than thirty
39 percent (30%) of annual federal-aid highway apportionments.
40 (f) Beginning with the 2011 legislative session for the fiscal year 2012
41 budget, or for any year thereafter, the thirty percent (30%) limit may be
42 exceeded, but only by affirmative action of both the house of representa-
43 tives and the senate, and with the approval of the governor.
44 (4) In the event the board selects and designates to be funded with bond
45 proceeds any of the transportation projects listed in subsection (1) of this
46 section, and prior to entering into agreements with the Idaho housing and
47 finance association as provided herein, the Idaho transportation department,
48 as part of its annual budget request prepared pursuant to section 67-3502,
49 Idaho Code, shall include a request for bonding authority as a separate item
50 of its budget request. This request for bonding authority shall include a list
51 of planned highway transportation projects to be financed with such bond
52 financing during the next succeeding fiscal year.
53 (5) By June 30 of each year, the board shall submit a report to the leg-
54 islature concerning projects currently under construction using the bond
55 financing as authorized by the provisions of this section, and shall include a
1 list of planned highway transportation projects to be financed with such bond
2 financing during the next succeeding fiscal year.
STATEMENT OF PURPOSE
This legislation will eliminate confusion regarding GARVEE
funding of the proposed Indian Valley Highway.
There is no fiscal impact to the General Fund.
Name: Representative Diana Thomas
Phone: (208) 332-1000
STATEMENT OF PURPOSE/FISCAL NOTE H 697