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Introduced Version Senate Bill 381 History

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Key: Green = existing Code. Red = new code to be enacted

FISCAL NOTEWEST virginia Legislature

2017 regular session

Introduced

Senate Bill 381

By Senator Boso

[Introduced February 21, 2017; Referred
to the Committee on Transportation and Infrastructure; and then to the Committee on Finance]

A BILL to amend and reenact §17-16A-18 of the Code of West Virginia, 1931, as amended, relating to Parkways Authority and maintaining status quo if bond indebtedness relative to Parkways Authority is eliminated; continuing tolls; and maintaining projects with Parkways Authority.

Be it enacted by the Legislature of West Virginia:


That §17-16A-18 of the Code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:

ARTICLE 16A. WEST VIRGINIA PARKWAYS, ECONOMIC DEVELOPMENT AND TOURISM AUTHORITY.


§17-16A-18. Cessation of tolls.

(a) Except as provided herein, when all bonds issued under the provisions of this article in connection with any parkway project or projects and the interest thereon shall have been paid or a sufficient amount for the payment of all such bonds and the interest thereon to the maturity thereof shall have been set aside in trust for the benefit of the bondholders, such project or projects, if then in good condition and repair to the satisfaction of the Commissioner of the state Division of Highways, shall be transferred to the state Division of Highways and shall thereafter be maintained by the state Division of Highways free of tolls.

(b) No later than February 1, 1990, The Parkways Authority shall discontinue, remove and not relocate all toll collection facilities on the West Virginia Turnpike as the same existed on June 1, 1989, except for the three main toll barriers and collection facilities and, provided solely that the provisions of section eighteen-a are complied with, the toll collection facilities at the intersection of U.S. Route 19 (Corridor "L") and said the turnpike.


 

NOTE: The purpose of this bill is to maintain the status quo if bond indebtedness is eliminated as the result of being paid off in order to continue collecting revenue for parkways roads and infrastructure projects. Current law requires, if bond indebtedness was satisfied, that tolls be eliminated and Parkway Authority roads and infrastructure projects, if in good condition, be transferred to the Division of Highways.

Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.

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