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Key Votes

S 1186 - Highway Project Financing - Key Vote

Idaho Key Votes

Stages

Family

Issues

Stage Details

Legislation - Signed (Executive) -

Title: Highway Project Financing

Legislation - Bill Passed (House) (39-29) - (Key vote)

Title: Highway Project Financing

Vote Smart's Synopsis:

Vote to pass a bill that authorizes the Idaho Housing and Finance Association to issue up to $82 million in Grant Anticipation Revenue Vehicle (GARVEE) bonds to finance highway transportation projects.

Highlights:
-Prohibits the Idaho Transportation Board and Transportation Department from adding new highway projects or increasing the size or scope of the projects approved for GARVEE bond financing (Sec. 3). -Requires the new bonds be tax exempt, disbursed at prevailing market rates of interest, and issued on an "as needed" basis as determined by the Idaho Transportation Board (Sec. 5). -Specifies that it is the intent of the Legislature that the first priority of expenditures shall be for construction, followed by expenditures for right-of-way acquisition, followed by other necessary project-related costs (Sec. 6). -Authorizes the Idaho Transportation Board to transfer up to $4 million from the State Highway Account to the GARVEE debt service fund to pay the state's portion of the GARVEE bonds, as required by federal law (Sec. 8). -Requires the Idaho Transportation Board to submit annual progress reports concerning current and pending construction projects to the Legislature by September 30 of each year (Sec. 9).
Legislation - Bill Passed (Senate) (28-6) - (Key vote)

Title: Highway Project Financing

Vote Smart's Synopsis:

Vote to pass a bill that authorizes the Idaho Housing and Finance Association to issue up to $82 million in Grant Anticipation Revenue Vehicle (GARVEE) bonds to finance highway transportation projects.

Highlights:
-Prohibits the Idaho Transportation Board and Transportation Department from adding new highway projects or increasing the size or scope of the projects approved for GARVEE bond financing (Sec. 3). -Requires the new bonds be tax exempt, disbursed at prevailing market rates of interest, and issued on an "as needed" basis as determined by the Idaho Transportation Board (Sec. 5). -Specifies that it is the intent of the Legislature that the first priority of expenditures shall be for construction, followed by expenditures for right-of-way acquisition, followed by other necessary project-related costs (Sec. 6). -Authorizes the Idaho Transportation Board to transfer up to $4 million from the State Highway Account to the GARVEE debt service fund to pay the state's portion of the GARVEE bonds, as required by federal law (Sec. 8). -Requires the Idaho Transportation Board to submit annual progress reports concerning current and pending construction projects to the Legislature by September 30 of each year (Sec. 9).
Legislation - Introduced (Senate) -

Title: Highway Project Financing

Committee Sponsors

Sponsors

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