Signed by Governor Gary Herbert

Vote Smart's Synopsis:

Vote to pass a bill that appropriates funds for certain infrastructure projects, effective July 1, 2016.

Highlights:

• Establishes the Throughput Infrastructure Fund that appropriates funds from the following revenue sources (Sec. 2):
• All amounts transferred to the fund;
• All voluntary contributions received by the fund;
• All appropriations made to the fund by the Legislature; and
• All amounts received from the repayment of loans made by the impact board.

• Requires the community impact board to perform the following actions (Sec. 3):
• Make grants and loans from the Throughput Infrastructure Fund for a “throughput infrastructure project;”
• Use money transferred to the Throughput Infrastructure Fund to provide a loan or grant to finance the cost of acquisition or construction of a “throughput infrastructure project;”
• Administer the Throughput Infrastructure Fund to keep a portion of the fund revolving; and
• Determine provisions for repayment of loans

• Defines “throughput infrastructure project” as the following facilities, located within, partially within, or outside the state (Sec. 3):
• A bulk commodities ocean terminal;
• A pipeline for the transportation of liquid or gaseous hydrocarbons; and 
• A shortline freight railroad and ancillary facilities.

• Requires the Division of Finance to deposit the following amounts of revenue generated by taxes into the Throughput Infrastructure Fund (Sec. 4):
• 2.6 million for the 2016-2017 fiscal year; and 
• 2.7 million for the 2017-2018 fiscal year. 

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that appropriates funds for certain infrastructure projects, effective July 1, 2016.

Highlights:

• Establishes the Throughput Infrastructure Fund that appropriates funds from the following revenue sources (Sec. 2):
• All amounts transferred to the fund;
• All voluntary contributions received by the fund;
• All appropriations made to the fund by the Legislature; and
• All amounts received from the repayment of loans made by the impact board.

• Requires the community impact board to perform the following actions (Sec. 3):
• Make grants and loans from the Throughput Infrastructure Fund for a “throughput infrastructure project;”
• Use money transferred to the Throughput Infrastructure Fund to provide a loan or grant to finance the cost of acquisition or construction of a “throughput infrastructure project;”
• Administer the Throughput Infrastructure Fund to keep a portion of the fund revolving; and
• Determine provisions for repayment of loans

• Defines “throughput infrastructure project” as the following facilities, located within, partially within, or outside the state (Sec. 3):
• A bulk commodities ocean terminal;
• A pipeline for the transportation of liquid or gaseous hydrocarbons; and 
• A shortline freight railroad and ancillary facilities.

• Requires the Division of Finance to deposit the following amounts of revenue generated by taxes into the Throughput Infrastructure Fund (Sec. 4):
• 2.6 million for the 2016-2017 fiscal year; and 
• 2.7 million for the 2017-2018 fiscal year. 

Full Bill Text