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2002 SESSION

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SB 118 Public-Private Transportation Act; financing costs incurred.

Introduced by: Walter A. Stosch | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Public-Private Transportation Act of 1995; financing of and costs incurred in the implementation of transportation facilities. Provides that debt obligations and other financing instruments issued by tax-exempt corporations or public authorities to finance transportation facilities shall not constitute a debt or obligation of the Commonwealth and, therefore, are not subject to review by the Department of the Treasury. The bill also provides that the costs involved in moving or relocating facilities owned by public service companies, public utilities, railroads, or cable television providers shall be paid for in accordance with policies of the public entity that has entered into a contract for the building of the transportation facility. Current law provides that the costs of moving or relocating such facilities shall be paid for by the private entity responsible for the acquisition, construction, improvement, maintenance and/or operation of the qualifying transportation facility.


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