Florida Senate - 2019 SENATOR AMENDMENT Bill No. CS/CS/CS/HB 385, 1st Eng. Ì650860#Î650860 LEGISLATIVE ACTION Senate . House . . . Floor: 1e/F/2R . 05/01/2019 11:26 AM . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— Senator Taddeo moved the following: 1 Senate Amendment to Amendment (869784) (with title 2 amendment) 3 4 Delete lines 437 - 1545 5 and insert: 6 Section 11. (1) The Florida Transportation Commission shall 7 contract with the Center for Urban Transportation Research at 8 the University of South Florida to conduct an independent study 9 with the input of the Miami-Dade Expressway Authority, Miami 10 Dade County, and the Florida Department of Transportation for 11 the purpose of submitting the report provided in subsection (2). 12 (2) Before October 1, 2019, the Florida Transportation 13 Commission shall submit a report to the Governor, the President 14 of the Senate, and the Speaker of the House of Representatives 15 assessing the findings of the study, including legal issues with 16 respect to the creation of a new authority and transfer of its 17 assets, liabilities, revenues, and operating expenses. The 18 report must also provide an analysis of the impact of 19 legislative action on bond rating, credit worthiness, bonding 20 capacity, and interest rates to the toll payers of the 21 authority. The report must provide a thorough financial analysis 22 on any potential unintended statewide credit issues to other 23 governmental agencies or authorities in the financial markets 24 impacting future bond financing of infrastructure in this state. 25 The report must analyze the feasibility of a toll rate 26 reduction. In determining the financial feasibility of a toll 27 rate reduction, the commission may consult with the Miami-Dade 28 Expressway Authority’s bond counsel, and such counsel shall have 29 the opportunity to respond to such report. 30 31 ================= T I T L E A M E N D M E N T ================ 32 And the title is amended as follows: 33 Delete lines 1603 - 1787 34 and insert: 35 343.1003, F.S.; revising a cross-reference; requiring 36 the Florida Transportation Commission to contract with 37 the Center for Urban Transportation Research at the 38 University of South Florida to conduct an independent 39 study for a certain purpose, with the input of the 40 Miami-Dade Expressway Authority, Miami-Dade County, 41 and the Florida Department of Transportation; 42 requiring the commission to submit a certain report to 43 the Governor and the Legislature before a specified 44 date; providing requirements for the report; 45 authorizing the commission to consult with the 46 authority’s bond counsel in determining the financial 47 feasibility of a toll rate reduction; requiring the 48 counsel to have the opportunity to respond to such 49 report; providing effective dates.