Bill Text: FL S0106 | 2010 | Regular Session | Introduced

Florida Senate Bill 106 (Prior Session Legislation)

Introduced

Bill Title: Transportation Facilities [CPSC]

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2010-04-30 - Died in Committee on Transportation [S0106 Detail]

Download: Florida-2010-S0106-Introduced.html

 
Florida Senate - 2010                                     SB 106 
 
By Senator Aronberg 
27-00131-10                                            2010106__ 
1                        A bill to be entitled 
2         An act relating to transportation facilities; amending 
3         s. 334.30, F.S.; deleting a provision authorizing the 
4         Department of Transportation to lease existing toll 
5         facilities through public-private partnerships; 
6         providing an effective date. 
7 
8  Be It Enacted by the Legislature of the State of Florida: 
9 
10         Section 1. Subsection (2) of section 334.30, Florida 
11  Statutes, is amended to read: 
12         334.30 Public-private transportation facilities.—The 
13  Legislature finds and declares that there is a public need for 
14  the rapid construction of safe and efficient transportation 
15  facilities for the purpose of traveling within the state, and 
16  that it is in the public’s interest to provide for the 
17  construction of additional safe, convenient, and economical 
18  transportation facilities. 
19         (2) Agreements entered into pursuant to this section may 
20  authorize the private entity to impose tolls or fares for the 
21  use of the facility. The following provisions shall apply to 
22  such agreements: 
23         (a) With the exception of the Florida Turnpike System, the 
24  department may lease existing toll facilities through public 
25  private partnerships. The public-private partnership agreement 
26  must ensure that the transportation facility is properly 
27  operated, maintained, and renewed in accordance with department 
28  standards. 
29         (a)(b) The department may develop new toll facilities or 
30  increase capacity on existing toll facilities through public 
31  private partnerships. The public-private partnership agreement 
32  must ensure that the toll facility is properly operated, 
33  maintained, and renewed in accordance with department standards. 
34         (b)(c) Any toll revenues shall be regulated by the 
35  department pursuant to s. 338.165(3). The regulations governing 
36  the future increase of toll or fare revenues shall be included 
37  in the public-private partnership agreement. 
38         (c)(d) The department shall provide the analysis required 
39  in subparagraph (6)(e)2. to the Legislative Budget Commission 
40  created pursuant to s. 11.90 for review and approval prior to 
41  awarding a contract on a lease of an existing toll facility. 
42         (d)(e) The department shall include provisions in the 
43  public-private partnership agreement that ensure a negotiated 
44  portion of revenues from tolled or fare generating projects are 
45  returned to the department over the life of the public-private 
46  partnership agreement. In the case of a lease of an existing 
47  toll facility, the department shall receive a portion of funds 
48  upon closing on the agreements and shall also include provisions 
49  in the agreement to receive payment of a portion of excess 
50  revenues over the life of the public-private partnership. 
51         (e)(f) The private entity shall provide an investment grade 
52  traffic and revenue study prepared by an internationally 
53  recognized traffic and revenue expert that is accepted by the 
54  national bond rating agencies. The private entity shall also 
55  provide a finance plan that identifies the project cost, 
56  revenues by source, financing, major assumptions, internal rate 
57  of return on private investments, and whether any government 
58  funds are assumed to deliver a cost-feasible project, and a 
59  total cash flow analysis beginning with implementation of the 
60  project and extending for the term of the agreement. 
61         Section 2. This act shall take effect July 1, 2010.