SB 1718 Summary

• Creates the Trade Infrastructure Investment Steering Committee within the Governor's Office with 5 members to identify strategic investments in port, airport, and rail trade infrastructure projects and advise on trade and logistics opportunities.

• Establishes a State Infrastructure Bank Selection Committee to prioritize loans and credit enhancements for transportation projects, with emphasis on economic development and job creation, and requires the Department of Transportation to deposit no less than $20 million annually into the infrastructure bank beginning in fiscal year 2013-2014.

• Allows limited exemptions from Strategic Intermodal System level-of-service standards for multimodal cargo facilities that create at least 50 full-time jobs and meet other criteria including proximity to high unemployment areas.

• Authorizes local governments over deepwater ports, airports, and railroads to develop 10-year comprehensive economic development and intermodal transportation plans that, once approved, constitute priority lists for state and local transportation funding.

• Streamlines environmental permitting for seaports by requiring the Department of Environmental Protection to issue port conceptual permit notices within 30 days and creates presumptions of compliance with water quality standards upon permit issuance.