SB 4/LM (BR 20) - D. Ridley, J. Rhoads, D. Boswell
AN ACT relating to public infrastructure authorities.
Establish KRS Chapter 175B and create new sections thereof to: provide definitions; establish the Kentucky Public Transportation Infrastructure Authority and specify membership, meeting requirements, staffing, and operations; state the purpose and powers of the authority; direct how potential projects are evaluated, proposed, and approved; establish how bi-state authorities may be created; permit tolling; establish requirements for level of tolling; direct how proceeds of tolls and other revenues shall be used; permit authority to contract with the department for construction and operations; specify that the authority shall maintain control of projects and revenues from projects; authorize projects constructed by the authority to include interchanges with existing roadways; permit authority to issue administrative regulations; permit public utilities to utilize rights-of-way under specific circumstances; permit agreements for use of real estate assets of the authority by the Commonwealth; authorize issuance of bonds; state that bonds are not a debt of the Commonwealth; permit incidental use of rights-of-way for specified purposes; authorize trust relationships; authorize state agencies and localities to invest in bonds; exempt bonds from state taxation; allow authority to contract for provision of maintenance services; direct how projects shall revert to ownership of the Commonwealth when all bonds are retired; require issuance of an annual report and require an annual audit; prohibit officers and employees from directly investing in authority bonds; indemnify board members and employees from personal liability; authorize previous planning and other work to become a part of the function of the authority; repeal KRS 181.850, 181.851, 181.852, 181.853, 181.854, 181.855, 181.856, 181.857, 181.858, 181.859, 181.860, 181.861, 181.862, 181.863, 181.864, 181.865, 181.866, 181.867, 181.868, and 181.869.
Jun 15-introduced in Senate; taken from Committee on Committees (S); 1st reading; returned to Committee on Committees (S)
Jun 16-taken from Committee on Committees (S); 2nd reading; returned to Committee on Committees (S)