(at the request of Governor Theodore R. Kulongoski for Department of Transportation)
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Regular Sponsors:
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Bill Title:
Relating to financing for transportation projects; and declaring an emergency.
Catchline/Summary:
Authorizes issuance of lottery bonds for transportation projects funded from Multimodal Transportation Fund. Authorizes issuance of lottery bonds for transportation projects funded from Multimodal Transportation Fund. Specifies allocation of lottery bond proceeds. Modifies elements Oregon Transportation Commission must consider when selecting projects to be funded with moneys from fund.
Requires, from July 1, 2007, to July 1, 2013, each recipient of moneys from fund to pay, in addition to any other fees or payments required for grants or loans from fund, specified percentage of recipient's total project costs to Department of Transportation. Directs department to use additional moneys received to conduct statewide multimodal study of transportation system.
Declares emergency, effective July 1, 2007.
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HB 2278
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