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2016 SESSION

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SB 197 Interstate 73 Corridor Development Fund and Program; created.

Introduced by: William M. Stanley, Jr. | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Interstate 73 Corridor Development Fund and Program. Establishes the Interstate 73 Corridor Development Fund and Program and reallocates to the I-73 Fund the $40 million from state recordation taxes that is currently allocated annually to the U.S. Route 58 Corridor Development Fund and Program. All provisions of the bill are contingent upon construction of and payments for Route 58 being completed.

SUMMARY AS INTRODUCED:

Interstate 73 Corridor Development Fund and Program. Reallocates and transfers the U.S. Route 58 Corridor Development Fund and Program to Interstate 73 effective either July 1, 2020, or upon completion of the U.S. Route 58 Corridor Development Program, whichever occurs sooner. Currently, $40 million is allocated annually to the Route 58 project.