HB1322 Summary

• Creates the Transportation Development Partnership Trust Fund administered by the Department of Transportation to receive county tax revenues for transportation projects costing a minimum of $5,000,000.

• Allows counties to direct all or a portion of taxes collected under the Special County Retailers' Occupation Tax for Transportation and the County Option Motor Fuel Tax into the new trust fund by ordinance.

• Requires intergovernmental agreements between the Department of Transportation and participating counties that specify project details, mandate counties raise matching funds equal to state contributions, and provide for repayment of county contributions (less 10%) within 10 years.

• Amends the Counties Code to permit counties to designate funds by ordinance for deposit into the Transportation Development Partnership Trust Fund.

• Takes effect upon becoming law.