HB213 Alabama 2013 Session

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Bill Summary

Sponsors

Session

Regular Session 2013

Title

Highway Finance Corporation, borrowing power clarified, Governor added as member of authority, proceeds of bonds, use by counties and municipalities to match federal funds, Secs. 23-1-174, 23-1-177, 23-1-178, 23-1-181 am'd.

Description

The Alabama Highway Finance Corporation issues bonds to assure the state's availability of funds for payment of the state's share of the cost of constructing roads funded by the state or federal governments

This bill would increase the corporation's borrowing authority to not more than $25 million in aggregate principal amount of bonds outstanding at any time for the purpose of financing the state's share of the cost of constructing roads, bridges, and related improvements funded in part by the federal government or to match federal funds for local roadway, bridge, and related improvements awarded through the Rural Assistance Match Program and administered by the Alabama Department of Transportation

To amend Sections 23-1-174, 23-1-177, 23-1-178, and 23-1-181 of the Code of Alabama 1975, to add the Governor as a member of the corporation; to designate the officers of the corporation; to increase the borrowing authority of the corporation to not more than $25 million in aggregate principal amount of bonds of the corporation outstanding at any time for the purpose of financing the state's share of the cost of constructing roads, bridges, and related improvements; and to provide matching funds otherwise to be paid by counties or municipalities for local roadway, bridge, and related improvement projects awarded through the Rural Assistance Match Program and administered by the Alabama Department of Transportation. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. Sections 23-1-174, 23-1-177, 23-1-178, and 23-1-181, Code of Alabama 1975, are amended to read as follows: "§23-1-174. "The applicants named in the application and their respective successors in office shall constitute the members of the corporation shall consist of the Governor, the Director of Transportation, the Attorney General, and the Director of Finance and their respective successors in office. The Director of Transportation Governor shall be the president of the corporation, the Attorney General Director of Finance shall

Subjects

Transportation Department

Bill Actions

Action Date	Chamber	Action
March 7, 2013	S	Pending third reading on day 12 Favorable from Commerce, Transportation, and Utilities
March 7, 2013	S	Read for the second time and placed on the calendar
February 26, 2013	S	Read for the first time and referred to the Senate committee on Commerce, Transportation, and Utilities
February 26, 2013	H	Engrossed
February 26, 2013	H	Motion to Read a Third Time and Pass adopted Roll Call 128
February 26, 2013	H	Motion to Adopt adopted Roll Call 127
February 26, 2013	H	Transportation, Utilities and Infrastructure Amendment Offered
February 26, 2013	H	Third Reading Passed
February 14, 2013	H	Read for the second time and placed on the calendar 1 amendment
February 7, 2013	H	Read for the first time and referred to the House of Representatives committee on Transportation, Utilities and Infrastructure