Raised Bill No. 271 Summary

• Establishes a Transportation Strategy and Advisory Board with 12 members appointed by legislative leaders and the Governor, effective July 1, 2020, to conduct public hearings, review transportation projects, and submit annual reports on the Special Transportation Fund's fiscal health and state transportation strategy.

• Creates a Connecticut and New York Railroad Strategy Board with 8 members to conduct annual public hearings on mass transit and review rail projects, with recommendations submitted to the General Assembly within 30 days of receiving priority reports from the Transportation Commissioner.

• Requires the Transportation Commissioner to provide biannual project priority reports identifying transportation and rail projects in various stages, including budget status, change orders, and funding gaps, with quarterly status updates on maintenance and rehabilitation projects.

• Limits aggregate TIFIA loan agreements to $1.5 billion and RRIF loan agreements to $3.24 billion for the period July 1, 2022 through December 31, 2030, and changes statute to require (rather than permit) the state to apply for federal transportation loans.

• Transfers $1.5 billion from the Budget Reserve Fund to the State Employees Retirement Fund in fiscal year 2021 to pay unfunded pension liability and redirects resulting General Fund savings to transportation fringe benefits; requires comprehensive audits of the Department of Transportation by March 1, 2021.