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IN SB0516

Bill

Official Source

Status

Introduced

1/18/2011

Primary Sponsor

Karen Tallian

Click for details

Origin

Senate

2011 Regular Session

AI Summary

  • Authorizes commuter transportation districts to use commuter rail service fund revenue derived from taxation of railroad car companies' indefinite-situs distributable property for debt service payments and required debt service reserves

  • Permits remaining funds, after debt service obligations are met, to be used as state matching funds for federal transportation capital grants

  • Amends existing law that previously restricted these funds exclusively to debt financing of long-term capital needs for commuter transportation districts

  • Effective date of July 1, 2011

Legislative Description

Commuter rail service fund.

Last Action

First reading: referred to Committee on Appropriations

1/18/2011

Full Bill Text

No bill text available