HB 166 Summary

• Creates transportation innovation authorities as pilot projects to foster public and private investment in regional transportation infrastructure, with the director of transportation approving not more than two authorities per department district.

• Establishes governance structure for authorities comprised of multiple governmental agencies (counties, townships, municipalities, transit authorities, port authorities) with board representation and authority to plan, fund, and operate transportation projects through various financing mechanisms.

• Authorizes authorities to fund projects through special assessments, tolls, bonds, grants, loans, tax incentives, and public-private partnerships, with new generation infrastructure bank funds available to support authority projects.

• Sets speed limit at 35 miles per hour on specified portion of U.S. Route 6 in Cleveland running from mile marker 12.20 to mile marker 14.49.

• Appropriates $340 million in FY 2010 for new generation infrastructure bank loan and bond programs ($50 million highway, $120 million multimodal for each program).