MN SF3878

Establishes a transportation loan pilot program allowing the commissioner of transportation to apply for federal financial assistance under the Transportation Infrastructure Finance and Innovation Act of 1998 (TIFIA) and other federal loan programs.

Creates a federal transportation loan account in the special revenue fund to receive permit fee revenues from oversize/overweight vehicle permits (excluding certain fees) during years when a federal loan is outstanding or being applied for.

Limits the pilot program to a specific Nicollet County project to expand a trunk highway from two lanes to four lanes, for which an Infrastructure for Rebuilding America (INFRA) grant application was submitted to the U.S. Department of Transportation on February 24, 2020.

Specifies that loan repayment is secured only by permit fee revenues deposited to the federal transportation loan account and does not pledge the state's full faith, credit, or taxing powers.

Requires annual reports to legislative committees detailing funds deposited, amounts transferred to the trunk highway fund, account balances, loan payments, and reserve amounts held.