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S1388.....................................................by TRANSPORTATION
RURAL ECONOMIC DEVELOPMENT - Amends existing law relating to the Rural
Economic Development and Integrated Freight Transportation Revolving Loan
Fund to increase the matching grant fund limit.
02/08 Senate intro - 1st rdg - to printing
02/11 Rpt prt - to Transp
02/20 Rpt out - rec d/p - to 2nd rdg
02/21 2nd rdg - to 3rd rdg
02/25 3rd rdg - PASSED - 33-0-2
AYES -- Andreason, Bair, Bastian, Bilyeu, Broadsword, Burkett,
Cameron, Corder, Darrington, Davis, Fulcher, Geddes, Goedde, Hammond,
Heinrich, Hill, Jorgenson, Kelly, Keough, Langhorst, Little, Lodge,
Malepeai(Sagness), McGee, McKague, McKenzie, Pearce, Richardson,
Schroeder, Siddoway, Stegner, Stennett, Werk
NAYS -- None
Absent and excused -- Coiner, Gannon
Floor Sponsor - Goedde
Title apvd - to House
02/26 House intro - 1st rdg - to Transp
03/05 Rpt out - rec d/p - to 2nd rdg
03/06 2nd rdg - to 3rd rdg
03/11 3rd rdg - PASSED - 67-0-3
AYES -- Anderson, Andrus, Barrett, Bayer, Bedke, Bell, Bilbao, Black,
Block, Bock, Boe, Bolz, Bowers, Brackett, Bradford, Chadderdon,
Chavez, Chew, Clark, Collins, Crane, Durst, Eskridge, Hagedorn, Hart,
Harwood, Henbest, Henderson, Jaquet, Killen, King, Kren, Labrador,
Lake, LeFavour, Loertscher, Luker, Mathews, McGeachin, Mortimer,
Moyle, Nielsen, Nonini, Pasley-Stuart, Patrick, Pence, Raybould,
Ringo, Ruchti, Rusche, Sayler, Schaefer, Shepherd(02), Shepherd(08),
Shirley, Shively, Smith(30), Smith(24), Stevenson, Thayn, Thomas,
Trail, Vander Woude, Wills, Wood(27), Wood(35), Mr. Speaker
NAYS -- None
Absent and excused -- Marriott, Roberts, Snodgrass
Floor Sponsor - Hart
Title apvd - to Senate
03/12 To enrol
03/13 Rpt enrol - Pres signed - Sp signed
03/14 To Governor
03/17 Governor signed
Session Law Chapter 154
Effective: 07/01/08
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]] Fifty-ninth Legislature Second Regular Session - 2008IN THE SENATE SENATE BILL NO. 1388 BY TRANSPORTATION COMMITTEE 1 AN ACT 2 RELATING TO THE RURAL ECONOMIC DEVELOPMENT AND INTEGRATED FREIGHT TRANSPORTA- 3 TION REVOLVING LOAN FUND; AMENDING SECTION 49-2904, IDAHO CODE, TO 4 INCREASE THE MAXIMUM MATCHING GRANT FUND LIMIT FROM TWENTY-FIVE THOUSAND 5 DOLLARS TO ONE HUNDRED THOUSAND DOLLARS AND TO MAKE TECHNICAL CORRECTIONS. 6 Be It Enacted by the Legislature of the State of Idaho: 7 SECTION 1. That Section 49-2904, Idaho Code, be, and the same is hereby 8 amended to read as follows: 9 49-2904. RURAL ECONOMIC DEVELOPMENT AND INTEGRATED FREIGHT TRANSPORTATION 10 REVOLVING LOAN FUND. (1) The rural economic development and integrated freight 11 transportation revolving loan fund is hereby created in the state treasury. 12 The department of agriculture is authorized to administer the rural economic 13 development and integrated freight transportation revolving loan fund. Moneys 14 in the fund shall be used only for the purposes specified in this chapter. 15 Surplus moneys in the fund shall be invested by the state treasurer in the 16 same manner as provided under section 67-1210, Idaho Code, with respect to 17 other surplus or idle moneys in the state treasury. Interest earned on the 18 investments shall be returned to the rural economic development and integrated 19 freight transportation revolving loan fund. 20 (2) Moneys in the fund are subject to appropriation and may consist of 21 appropriations, grants, repayment of loans and other revenues from any other 22 sources. 23 (3) Moneys in the fund may be used for loans or grants for qualified 24 rural projects for the development and preservation of intermodal rail and 25 truck services and facilities upon terms and conditions to be determined by 26 the department of agriculture with the assistance and advice of the inter- 27 agency working group as appropriate, for the purpose of: 28 (a) Rehabilitating, or improving rail lines to preserve essential local 29 rail service; 30 (b) Purchasing or rehabilitating railroad equipment necessary to maintain 31 essential rail service; 32 (c) Construction of loading or reloading facilities or other capital 33 improvements including building or improving local transportation infra- 34 structure, to increase business and commerce, and to improve shipping ser- 35 vice; or 36 (d) Coordinating intermodal truck and rail traffic for integrated rural 37 freight transportation. 38 (4) For the purposes of this chapter, "qualified lines" means class III 39 short lines, branch lines of class I railroads leased or operated by a class 40 III railroad, branch lines of class II railroads, and lines owned by public 41 entities including port districts and intermodal commerce authorities. Defini- 42 tions of class I, II and III railroads shall be as defined by the federal 43 railroad administration. 2 1 (5) Moneys received by the department of agriculture from loan payments 2 or other revenues shall be redeposited in the rural economic development and 3 integrated freight transportation fund. Repayment of loans made under this 4 chapter shall occur within a period as set by the department, but no repayment 5 which exceeds fifteen (15) years shall be allowed. The repayment schedule and 6 rate of interest shall be determined before the moneys are distributed. 7 (6) Moneys distributed under the provisions of this chapter shall be pro- 8 vided as loans to qualified lines or shippers. 9 (7) As funds allow, authorize one (1) matching grant per year not to 10 exceedtwenty-fiveone hundred thousand dollars ($25100,000) for planning and 11 development of intermodal commerce authorities as provided in chapter 22, 12 title 70, Idaho Code, upon conditions established in subsection (3) of this 13 section.
STATEMENT OF PURPOSE
RS 17814
Several sessions ago, the Idaho Legislature established the Rural
Economic Development and Integrated Freight Transportation
Revolving Loan Fund. In the last session, the Idaho Legislature
expanded the Revolving Loan Fund to include a matching grant for
planning and development of intermodal commerce authorities. This
legislation would expand the monetary limit from $25,000 to
$100,000.
FISCAL IMPACT
None. Funding for the grant would come directly from the
dedicated fund.
Contact
Name: Sen. John Goedde
Phone: 332-1321
Sen. John McGee
Sen. Shawn Keough
Sen. Jim Hammond
STATEMENT OF PURPOSE/FISCAL NOTE S 1388