TN HB6006

Creates the Tennessee Transportation Financing Authority as a public body corporate to provide financing and refinancing for transportation facilities including highways, bridges, tunnels, transit, railway, port, and airport projects

Governing board consists of five members: the Governor (chair), Commissioner of Finance and Administration, State Treasurer, Secretary of State, and Comptroller of the Treasury (vice chair); requires at least three votes for action

Authority may issue unlimited bonds without statutory interest rate caps, enter interest rate swap agreements, make loans and grants, and accept federal/state/private funding for transportation projects

Bonds are payable solely from pledged revenues and do not constitute state debt or pledge the full faith and credit of Tennessee; bonds and interest are exempt from state and local taxation except inheritance/estate taxes

User fee revenue from facilities developed under concession agreements must be deposited to designated funds rather than the state user fee fund, enabling revenue to secure authority bonds