An Act To Prohibit Use of Public Funds for a Private Transportation Study
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 23 MRSA §4251, sub-§4, ¶F, as enacted by PL 2009, c. 648, Pt. A, §1, is amended to read:
F. If the proposed transportation facility is to be supported by tolls or other user fees, the private entity must provide a traffic and revenue study prepared by an expert acceptable to the department and national bond rating agencies. The private entity must also provide a finance plan consistent with the traffic and revenue study that identifies the proposal costs, revenues by source, financing, major assumptions, internal rate of return on private investments and whether any government funds are assumed to deliver a cost-feasible project and that provides a total cash flow analysis beginning with implementation of the project and extending for the term of the agreement. The cost of any traffic and revenue study and finance plan submitted by a private entity pursuant to this paragraph must be funded by the private entity. The department may not expend its own funds for the purpose of funding a study or plan in connection with the proposal of a private entity.
summary
This bill prohibits the use of Department of Transportation funds to pay for a traffic and revenue study or finance plan in connection with a proposal for a transportation facility made by a private entity.