HB 509 (BR 1038) - D. Pasley
AN ACT relating to the Turnpike Authority of Kentucky.
Amend KRS 175.410, regarding the Turnpike Authority of Kentucky, to provide definitions; amend KRS 175.420 and 175.425 to declare the legislative intent of the mission of the authority; amend KRS 175.430 to specify membership, meeting requirements, staffing, and operations; amend KRS 175.450 to state the purpose and powers of the authority; create a new section of KRS Chapter 175 to direct the authority to evaluate potential projects; require that projects be proposed by a local government and approved by the department; amend KRS 175.470 to permit authority to contract with the department for construction and operations; specify that the authority shall maintain control of projects and revenues from projects; amend KRS 175.490 to authorize projects constructed by the authority to include interchanges with existing roadways; permit the authority to issue administrative regulations; permit public utilities to utilize rights-of-way under specific circumstances; permit agreements for use of real estate assets of the authority by the Commonwealth; create a new section of KRS Chapter 175 to authorize issuance of bonds; amend KRS 175.510 to state that bonds are not a debt of the Commonwealth; create a new section of KRS Chapter 175 to permit tolling; establish requirements for level of tolling; direct how proceeds of tolls and other revenues shall be used; Amend KRS 175.530 to authorize trust relationships; amend KRS 175.540 to clarify that funds received by the Authority under this chapter are trust funds to be used under the provisions of the chapter; amend KRS 175.560 to exempt bonds from state taxation; amend KRS 175.570 to authorize state agencies and localities to invest in bonds; amend KRS 175.580 to allow authority to contract for provision of maintenance services and obtain property under the Eminent Domain Act; amend KRS 175.610 to direct that projects shall revert to ownership by the Commonwealth when all bonds are retired; create new sections of KRS Chapter 175 to require issuance of an annual report and require an annual audit; prohibit officers and employees from directly investing in authority bonds; indemnify board members and employees from personal liability; authorize previous planning and other work to become a part of the function of the authority; amend KRS 176.420 to require the activity of the authority to be evaluated as a part of the six-year road plan; amend KRS 11.400 and 42.409 to conform; repeal KRS 175.440, 175.460,175.500, 175.505, 175.520, 175.590, 175.605, 175.620, 175.630, 181.850, 181.851, 181.852, 181.853, 181.854, 181.855, 181.856, 181.857, 181.858, 181.859, 181.860, 181.861, 181.862, 181.863, 181.864, 181.865, 181.866, 181.867, 181.868, 181.869.
Feb 23-introduced in House
Feb 24-to Appropriations & Revenue (H)
