Chapter 859
AN ACT
HB 2278
Relating to financing for transportation projects; creating new
provisions; amending ORS 367.084; and declaring an emergency.
Be It Enacted by the People of
the State of
SECTION 1. (1)
Pursuant to ORS 286.560 to 286.580, for the biennium beginning July 1, 2007,
the State Treasurer may issue lottery bonds to finance grants and loans for
transportation projects as provided in ORS 367.080 to 367.086.
(2) The use of lottery
bond proceeds pursuant to this section is authorized based on the following
findings:
(a) There is an urgent
need to improve and expand publicly owned and privately owned transportation
infrastructure to support economic development in this state.
(b) A safe, efficient
and reliable transportation network supports the long-term economic development
and livability of this state. A multimodal network of air, rail, public
transit, highway and marine transportation moves people and goods efficiently.
(c) Local governments
and private sector businesses often lack capital and the technical capacity to
undertake multimodal transportation projects.
(d) Public financial
assistance can stimulate industrial growth and commercial enterprise and
promote employment opportunities in this state.
(e) Public investment in
transportation infrastructure will create jobs and further economic development
in this state.
(3) The aggregate
principal amount of lottery bonds issued pursuant to this section may not
exceed the sum of $100 million plus an additional amount established by the
State Treasurer to pay bond-related costs. The State Treasurer may issue
lottery bonds pursuant to this section only at the request of the Director of
Transportation.
(4) The net proceeds of
the lottery bonds issued pursuant to this section shall be deposited in the
Multimodal Transportation Fund established by ORS 367.080.
SECTION 2. (1)
To the extent that proposed transportation projects meet the qualifications
established by the
(a) Region one consists
of Clackamas,
(b) Region two consists
of
(c) Region three
consists of Coos, Curry, Douglas,
(d) Region four consists
of Crook, Deschutes, Gilliam, Jefferson, Klamath, Lake,
(e) Region five consists
of Baker, Grant, Harney, Malheur, Morrow, Umatilla, Union and
(2) In addition to any
other fees or payments required for grants or loans from the Multimodal
Transportation Fund, between July 1, 2007, and July 1, 2013, each recipient of
moneys from the fund shall pay two percent of the recipient’s total project
costs to the Department of Transportation. The department shall use the funds
received under this subsection to conduct a statewide multimodal study of the
transportation system. The study shall include an assessment of the
infrastructure, capacity demand and constraints, development of criteria for
strategic investments and return on investment and identification of potential
funding sources and strategies. The department may not use the funds received
under this subsection for any components of the study if the department has other
available and eligible funds.
SECTION 3.
ORS 367.084 is amended to read:
367.084. (1) The
(2)(a) Prior to
selecting aeronautic and airport transportation projects, the commission shall
solicit recommendations from the State Aviation Board.
(b) Prior to selecting
freight transportation projects, the commission shall solicit recommendations from
the Freight Advisory Committee.
(c) Prior to selecting
public transit and rail projects, the commission shall solicit recommendations
from its public transit and rail advisory committees.
(d) Prior to
selecting marine projects, the commission shall solicit recommendations from
the Economic and Community Development Department.
(3) In selecting
transportation projects the commission shall consider:
(a) Whether a proposed
transportation project reduces transportation costs for
[(b) Whether a proposed transportation project benefits or connects two
or more modes of transportation;]
(b) Whether a
proposed transportation project results in an economic benefit to this state;
(c) Whether a proposed
transportation project is a critical link [in
a statewide or regional] connecting elements of Oregon’s
transportation system that will measurably improve utilization and efficiency
of the system;
(d) How much of the cost
of a proposed transportation project can be borne by the applicant for the
grant or loan from any source other than the Multimodal Transportation Fund;
and
[(e) Whether a proposed transportation project creates construction and
permanent jobs in this state; and]
[(f)] (e) Whether a proposed transportation project is ready
for construction.
SECTION 4. This
2007 Act being necessary for the immediate preservation of the public peace,
health and safety, an emergency is declared to exist, and this 2007 Act takes
effect July 1, 2007.
Approved by the Governor July 31, 2007
Filed in the office of Secretary of State July 31, 2007
Effective date July 31, 2007
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