Public-Private Transportation Act of 1995; additional requirements for certain agreements. (SB165)

Introduced By

Sen. Mamie Locke (D-Hampton)

Description

Public-Private Transportation Act of 1995; additional requirements for certain comprehensive agreements. Provides that no comprehensive agreement providing for the lease,operation, or transfer of ownership of a qualifying transportation facility under the Public-Private Transportation Act with a total value of more than $1 billion and having a substantial negative impact on the tax revenues of an affected jurisdiction or substantially increasing the taxes, fees, or expenses that will be paid by residents of an affected jurisdiction may be executed by a state agency unless (i) approved by the Governor and (ii) a bill that includes a specific description of the proposed agreement and its anticipated expenditures and revenues is passed by the General Assembly. Read the Bill »

Outcome

History