Vote Smart's Synopsis:

Vote to pass a bill that establishes the Transportation Innovation Authority pilot program and the New Generation Infrastructure Bank Fund.

Highlights:

-Authorizes the Director of Transportation to establish the Transportation Innovation Authority pilot program, consisting of no more than 2 authorities per transportation district, in order to foster and encourage investment in projects that enhance the efficiency of the state transportation system and to assist government agencies in identifying transportation needs that encourage growth and economic development (Sec. 1). -Specifies that any governmental agency can enter into an agreement with 1 or more governmental agencies proposing to form a Transportation Innovation Authority by resolution, ordinance, or other appropriate legislative action (Sec. 1). -Establishes the New Generation Infrastructure Bank Fund in the state treasury to be administered by the Director of Transportation, to encourage Transportation Innovation Authorities to invest in various transportation facilities, funding, and projects (Sec. 1). -Requires a Transportation Innovation Authority to adopt zoning and land use policies consistent with a proposed project and to develop a land usage plan, to be submitted to member agencies and the Department of Transportation for approval before a project may begin (Sec. 1). -Requires a Transportation Innovation Authority to be governed by a board of directors, consisting of agencies that established the authority and with an equal number of board members representing each agency (Sec. 1). -Requires the board of directors to allow the participation of any new community authority, county transit system, regional transit authority, regional transit commission, joint economic development zone or joint economic development district, transportation improvement district, port authority, or metropolitan planning organization within the geographic area of the planned project (Sec. 1). -Authorizes a Transportation Innovation Authority to purchase or lease public or private property "necessary, convenient, or proper" for the carrying out of a transportation project, and specifies that authorized governmental agencies, not a Transportation Innovation Authority, have powers of eminent domain (Sec. 1). -Authorizes Transportation Innovation Authorities to charge tolls or fees to be utilized to support costs for transportation projects within the geographical area as agreed to by the authority (Sec. 1). -Appropriates $340 million for fiscal year 2009-2010 to the Department of Transportation in order to carry out the provisions of this Act, to be allocated as follows (Sec. 3):

-$50 million for the New Generation Highway Loan; -$50 million for the New Generation Highway Bond; -$120 million for the New Generation Multi Modal Loan; and -$120 million for the New Generation Multi Modal Bond.

Full Bill Text