Bill Summary for H 954 (2015-2016)

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Bill: TERMINATE AGREEMENT FOR TOLLING OF I-77.

Summary date: 

Apr 25 2016

Bill Information:

View NCGA Bill Details2015-2016 Session
House Bill 954 (Public) Filed Monday, April 25, 2016
AN ACT DIRECTING THE DEPARTMENT OF TRANSPORTATION TO TERMINATE THE COMPREHENSIVE AGREEMENT FOR THE I‑77 HOT LANES PROJECT IN MECKLENBURG AND IREDELL COUNTIES; CREATING A RESERVE ACCOUNT PROVIDING FOR PAYMENT OF TERMINATION CLAIMS; REDIRECTING REMAINING RESERVE ACCOUNT FUNDS; SUSPENDING SPECIFIED PROJECTS; REMOVING AUTHORIZATION TO CONSTRUCT THE I‑77 HOT LANES PROJECT AS A PUBLIC‑PRIVATE PARTNERSHIP; AND APPROPRIATING RELATED FUNDS.
Intro. by Jeter, Hager, Bradford.

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Bill summary

Requires the Department of Transportation (DOT) to terminate the Comprehensive Agreement for the I-77 HOT Lanes project in Mecklenburg and Iredell counties. Specifies that "Comprehensive Agreement" means the Comprehensive Agreement dated as of June 26, 2014, including any amendments made to the agreement as of the effective date of this act. The State is not relieved from paying damages owed from the early termination of the agreement. Effective September 1, 2016.

Appropriates $25,000 from the Highway Fund to the DOT in nonrecurring funds for 2016-17 to be used for legal fees incurred in determining the amount of damages that may be owed and other effects resulting from the cancellation of the Comprehensive Agreement. Effective July 1, 2016.