CT SB00849

Establishes a new local transportation capital program effective November 1, 2013, allowing the Department of Transportation to provide state funding to municipalities for transportation improvements on state or locally maintained roadways eligible for federal surface transportation urban program funding.

Reforms the local bridge program by replacing the dual project loan and project grant system with a single grant-based system, with grant percentages ranging from 15 to 50 percent based on each municipality's adjusted equalized net grand list per capita.

Authorizes the state to issue special tax obligation bonds maturing up to 20 years to fund the local transportation capital program and Local Bridge Revolving Fund, with proceeds deposited in the revolving fund for making grants to municipalities.

Allows the Commissioner of Transportation to make emergency grants for eligible bridge projects without regard to priority list if public health and safety protection is needed, and exempts such grants from state action requirements under sections 25-68b to 25-68h.

Eliminates project loan obligations and related agreements, removing the six percent annual interest payment requirement and ten-year maturity terms previously required for municipal bridge financing under the local bridge program.