HB 64 Summary

• Reclassifies eight airport system revolving funds as trust accounts, including funds for debt service, interest accounts, and maintenance reserves administratively created in 1969 and 1994.

• Reclassifies four harbor division revolving funds as trust accounts and abolishes the risk management fire and casualty losses - harbors trust fund, with unencumbered balances lapsing to the general fund.

• Amends section 264-16 to allow establishment of clearing trust accounts for the state highway system and repeals section 264-19 relating to the transportation improvement special fund, transferring unencumbered balances to the state highway fund.

• Reclassifies three highway division revolving funds as trust accounts and reclassifies the special deposits - highways trust account as a trust fund.

• Modifies safe routes to school program funding by requiring legislative appropriations from the special fund to counties and mandating annual county reporting to the legislature on program status.

• Effective date: July 1, 2021.