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ID S1188
Bill
Status
3/16/2017
Primary Sponsor
Judiciary and Rules Committee
Click for details
AI Summary
Senate Bill 1188 Summary
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Authorizes Idaho Housing and Finance Association to issue up to $300,000,000 in GARVEE (Grant Anticipation Revenue Vehicle) bonds to finance highway transportation projects on specified corridors, with repayment from federal highway funds.
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Creates new Capacity, Safety and Congestion Mitigation Program and establishes dedicated funding of 1.19% of sales tax collections ($15,200,000 annually starting fiscal year 2019) to support highway projects in high-population counties and local jurisdictions.
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Modifies highway distribution account apportionment, increasing state highway account allocation from 57% to 60% and decreasing local government allocation from 38% to 40% of collected highway user revenues.
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Extends sunset date for revenue transfer provisions from Chapter 341, Laws of 2015 by five additional years through May 31, 2022.
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Directs independent evaluation of Local Highway Technical Assistance Council (LHTAC) by qualified consultants to assess contract procedures, administrative efficiency, industry compliance, and feasibility of highway district consolidation.
Legislative Description
Adds to and amends existing law to provide GARVEE bonding authority and general bonding authority for highway construction; extends the surplus eliminator from 2015 for 5 years; provides moneys from the Sales Tax Account for bond debt service and for funding the Idaho State Police; and provides for a sales tax exemption for certain materials used on public roads.
HIGHWAYS
Last Action
Filed in Office of the Secretary of Senate
3/22/2017