HB2778 HFIN FBM                         HOUSE COMMITTEE ON FINANCE

FLOOR BOOK MEMO

H. B. 2778 (State Infrastructure Fund Program.)

Sponsors:          Delegates Gearheart, McCuskey, Storch, Hamrick, Espinosa, E. Nelson, Westfall, Mr. Speaker (Mr. Armstead), O’Neal, Pethtel and Ferro

Attorney:           JHJ 

Date:                    February 20, 2015                   

Title:                    Ok

Fiscal Note:      Yes

Code:                    §17-17B-1 through 5 (new article)

Purpose: The bill would establish the West Virginia State Transportation Infrastructure Fund Program within the Division of Highways.

          The program is a cooperative effort between the U.S. Department of Transportation and the state to maximize funds for transportation infrastructure projects in this state. The bill would create a special fund within the State Road Fund that would function as a revolving fund that would be available for transportation projects of municipalities and local government entities. The entities would payback the amount borrowed from the fund for the project. The fund would be made up of both state and federal dollars. The bill would provide definitions and rule making authority to the Commissioner of Highways.

Committee Action: The committee reported a Committee Substitute that incorporated the strike and insert amendment from the Roads and Transportation Committee which made technical corrections.

Effective Date:           Regular