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Legislation Introduced Changing Bond Authority

Jan 17, 2020

Senator Roger Victory (R-Georgetown Twp.) introduced legislation changing the way the state can bond for infrastructure projects. Under the bill, the State Transportation Commission (STC) would be required to notify the legislature 30 days prior to issuing any transportation bonds in excess of $100 million. It also provides the legislature with the authority to reject the issuance of those bonds within 30 days. The legislation would allow the STC to issue up to $100 million in transportation bonds annually without legislative authority to ensure the ability for a timely response in case of a major infrastructure emergency. The bill has been referred to the Senate Appropriations Committee for consideration.

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