Bill Summary for H 220 (2017-2018)
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Summary date:
Apr 19 2017
Bill Information:
| View NCGA Bill Details | 2017-2018 Session |
AN ACT TO EXPAND THE PURPOSES FOR WHICH FUNDS FROM THE STATE INFRASTRUCTURE BANK MAY BE USED AND TO CREATE AN OVERSIGHT BOARD FOR THE STATE INFRASTRUCTURE BANK, AS RECOMMENDED BY THE HOUSE SELECT COMMITTEE ON STRATEGIC TRANSPORTATION PLANNING AND LONG TERM FUNDING SOLUTIONS.Intro. by Torbett.
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Bill summary
House committee substitute makes the following changes to the 1st edition.
Amends proposed GS 136-277(c) to specify that the financial assistance the infrastructure banking program is authorized to provide to governmental units to finance the costs of transportation projects includes costs of aviation projects. Provides that any financial assistance provided under subsection (c) is subject to repayment and conditioned upon the establishment of any security and the payment of any fees and interest rates deemed necessary by the Department of Transportation (previously, also included any fees and interest rates required by the subsection and deemed necessary by the Department).