SB273 Summary

• Authorizes counties and participating municipalities to create joint road improvement authorities as public corporations with power to issue bonds and conduct road improvement projects.

• Establishes incorporation procedures requiring at least three resident incorporators to file applications with probate judges and obtain approval from county and municipal governing bodies.

• Provides alternative reincorporation procedure for existing road improvement commissions in counties with Class 4 municipalities to validate previously questionable creations retroactively.

• Grants authorities broad powers including ability to issue and sell bonds, acquire property, make grants, pledge revenues, enter into contracts, and impose rates and fees for facilities.

• Exempts authorities from taxation, usury laws, and limits liability to $100,000 per person/$300,000 aggregate for bodily injury and $100,000 for property damage per occurrence; becomes effective June 1, 2021.