An Act To Amend the Laws Governing the TransCap Trust Fund
Sec. 1. 30-A MRSA §6006-G, sub-§2, ¶A, as amended by PL 2009, c. 652, Pt. A, §43, is further amended to read:
Sec. 2. 30-A MRSA §6006-G, sub-§2, ¶B, as amended by PL 2009, c. 411, §1, is further amended to read:
Sec. 3. 30-A MRSA §6006-G, sub-§3, as enacted by PL 2007, c. 470, Pt. D, §1, is amended to read:
Sec. 4. 30-A MRSA §6006-G, sub-§6 is enacted to read:
This bill provides that 9.5% of the money that otherwise would be deposited in the TransCap Trust Fund be transferred to the Urban-Rural Initiative Program, Other Special Revenue Funds account in the Department of Transportation and requires approval by the voters at referendum for each new authorization of TransCap revenue bonding beginning October 1, 2011. It requires the joint standing committee of the Legislature having jurisdiction over transportation matters to review the goals of the TransCap Trust Fund every 2 years and authorizes the joint standing committee to report out legislation related to its review to the first regular session of the Legislature.