Bill Summary for H 1077 (2011-2012)

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Summary date: 

May 23 2012
S.L. 2012-184

Bill Information:

View NCGA Bill Details2011-2012 Session
House Bill 1077 (Public) Filed Tuesday, May 22, 2012
TO INCREASE PUBLIC-PRIVATE PARTNERSHIPS FOR TOLLING AND OTHER FINANCING METHODS ON TRANSPORTATION INFRASTRUCTURE PROJECTS, AS RECOMMENDED BY THE JOINT LEGISLATIVE TRANSPORTATION OVERSIGHT COMMITTEE.
Intro. by Frye, Mills.

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Bill summary

Amends GS 136-18(39), which concerns the Department of Transportation’s (DOT) power to enter into public-private partnership agreements, to permit any such agreement to comply with certain conditions, including the provision of performance and payment security, the ability to assign rights, the power to set and revise tolls, and the use of unallocated revenues from transportation infrastructure. Also authorizes the DOT to exercise powers and duties under Article 6H (public toll roads and bridges) independently of the Turnpike Authority, and to contract with vendors to exercise such powers.