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HB20-1377

Fund Controlled Maintenance Projects

Concerning a requirement that a portion of the proceeds of the Senate Bill 17-267 lease-purchase agreement that will be executed in state fiscal year 2019-20 be credited to the capital construction fund and appropriated only for controlled maintenance projects, including controlled maintenance projects that are capital renewal projects.
Session:
2020 Regular Session
Subject:
State Government
Bill Summary

Under current law, enacted by Senate Bill 17-267, the state executed the second of 4 tranches of lease-purchase agreements of up to $500 million in principal value each before the end of state fiscal year 2019-20 for the sole purpose of funding transportation projects. Due to a favorable interest rate environment, the state actually received more than $600 million of proceeds from the execution of this second tranche of lease-purchase agreements. The act requires the first $49 million of proceeds received in excess of $500 million to be credited to the capital construction fund and appropriated for controlled maintenance projects, including controlled maintenance projects that are capital renewal projects, instead of transportation projects.


(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    06/30/2020 Signed Act PDF
    06/29/2020 Final Act PDF
    06/06/2020 Rerevised PDF
    06/05/2020 Revised PDF
    06/03/2020 Reengrossed PDF
    06/01/2020 Engrossed PDF
    05/26/2020 Introduced PDF
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