HB1096 Adopts legislation authorizing toll roads, provided accompanying constitutional change is passed.
Sponsor: Seigfreid, James (26) Effective Date:00/00/0000
CoSponsor: Klindt, David (3) LR Number: 2481L.01I
Last Action: COMMITTEE: TRANSPORTATION
01/19/2000 - Public Hearing Held (H)
HB1096
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
ACTIONS HEARINGS CALENDAR
BILL SUMMARIES BILL TEXT
BILL SEARCH HOUSE HOME PAGE

Available Bill Summaries for HB1096 Copyright(c)
* Introduced

Available Bill Text for HB1096
* Introduced *

BILL SUMMARIES

INTRODUCED

HB 1096 -- State Highway Toll Facilities

Co-Sponsors:  Seigfreid, Klindt, Gaw, Berkowitz

This bill enables the Highways and Transportation Commission to
fund, construct, and operate toll roads, toll bridges, and other
facilities connected with toll roads and bridges.  It is
contingent upon the approval of a constitutional amendment
authorizing the commission to fund, construct, and operate toll
facilities.

The commission is authorized to issue revenue bonds and
refunding bonds for toll facilities.  No more than $500 million
in bonds may be outstanding at any one time.  The bill exempts
the proceeds and interest from the bonds from taxation by the
state except for the estate tax.

Construction, operation, and retirement of debt in connection
with toll facilities will be handled in three funds.

The State Toll Facility Construction Fund will receive the
proceeds from the sale of state road revenue bonds and moneys
from other sources to be used to pay for the construction of
toll facilities.

The State Toll Facility Revenue Fund will receive state revenue
from toll facilities.

The State Toll Facility Bond and Interest Sinking Fund will
receive funds from the State Toll Facility Revenue Fund which
are in excess of what is needed to operate toll facilities.
These funds will be used to pay principal and interest on the
bonds.  If there are insufficient funds to do that, the
commission is given authority to transfer moneys from the State
Road Fund sufficient to make such payments.

The commission will establish segregated accounts within the
various funds to keep the financing of projects separated from
each other.  It has authority to make transfers between funds
and accounts.

When the bonds issued for a particular toll facility are paid
off, the facility will continue in the state transportation
system as a free facility.


redbar

Missouri House of Representatives' Home Page
Last Updated October 17, 2000 at 9:55 am