Skip to main content
House Bill 1729


House Bill 1729

ARCHIVE (2005)

Latest Information

 

DIGEST OF HB1729 (Updated February 15, 2005 5:08 pm - DI 84)


Securitization of federal transportation grants. Provides that the gasoline tax applies to gasoline used or sold in Indiana (current law provides that the tax applies to gasoline used in Indiana). Authorizes the transportation finance authority to issue bonds or notes secured by lease rentals relating to highway improvement projects and anticipated to be paid by the department of transportation from federal transportation revenues received in the current federal fiscal year or to be received in a future federal fiscal year. Limits the total amount of the lease rentals securing the bonds or notes during any state fiscal year to 50% of the increase in the amount of federal transportation revenues received by the state since the federal fiscal year ending September 30, 2004. Authorizes the transportation finance authority to issue bonds or notes for local road projects that are secured by lease rentals payable by cities, towns, and counties. Provides that when issuing the bonds or notes, the authority is subject to certain rules concerning minority and women's business participation. Makes conforming changes.
Current Status:
 In Committee - 2nd House
>Latest Printing > (PDF)