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AL SB99
Bill
AI Summary
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Creates the Alabama Federal Fund Exchange Program allowing the Alabama Department of Transportation and political or governmental subdivisions to enter into agreements to purchase federal transportation funds from each other at a department-determined discount rate.
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Purchased federal transportation funds must be expended on construction, reconstruction, maintenance, and repair of public highways, streets, roads, bridges, and related facilities.
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Entities selling federal transportation funds must provide proof to the department that sale proceeds were expended for the described purposes, with proof methods and timing determined by the department.
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Participating entities must comply with applicable public purchasing laws and competitive bidding requirements, and contracts must be performed by a workforce consisting only of legal residents of Alabama, except where prohibited by federal law.
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Alabama Department of Transportation must submit an annual report by November 1 to the Joint Transportation Committee summarizing exchange agreements entered during the previous fiscal year and the implementation status of funded projects.
Legislative Description
Transportation Dept., Ala. Federal Fund Exchange Program, political subdivisions or public corporation authorized to puchase fed. transportation funds at a discount, work to be performed by state residents, reports to Jt. Transportation Committee, Ala. Fed. Fund Exchange Program
Transportation Department
Last Action
Read for the first time and referred to the Senate committee on Transportation and Energy
1/9/2018