SENATE AMENDMENT

    Bill No. CS for CS for CS for SB 502

    Amendment No. ___   Barcode 393940

                            CHAMBER ACTION
              Senate                               House
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11  Senators Klein and Sebesta moved the following amendment:

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13         Senate Amendment (with title amendment) 

14         On page 21, lines 6-27, delete those lines

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16  and insert:

17         (8)  "Economically feasible" means:

18         (a)  For a proposed turnpike project, that, as

19  determined by the department before the issuance of revenue

20  bonds for the project, the estimated net revenues of the

21  proposed turnpike project, excluding feeder roads and turnpike

22  improvements, will be sufficient to pay at least 50 percent of

23  the debt service on the bonds by the end of the 12th 5th year

24  of operation and to pay at least 100 percent of the debt

25  service on the bonds by the end of the 22nd 15th year of

26  operation. In implementing this paragraph, up to 50 percent of

27  the adopted work program costs of the project may be funded

28  from turnpike revenues.

29         (b)  For turnpike projects, except for feeder roads and

30  turnpike improvements, financed from revenues of the turnpike

31  system, such project, or such group of projects, originally

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                                                  SENATE AMENDMENT

    Bill No. CS for CS for CS for SB 502

    Amendment No. ___   Barcode 393940





  1  financed from revenues of the turnpike system, that the

  2  project is expected to generate sufficient revenues to

  3  amortize project costs within 15 years of opening to traffic.

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  6  ================ T I T L E   A M E N D M E N T ===============

  7  And the title is amended as follows:

  8         On page 1, line 30, through

  9            page 2, line 2, delete those lines

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11  and insert:

12         the Florida Turnpike Enterprise Law; amending

13         s. 338.221, F.S.; conforming provisions to the

14         redesignation; creating s. 338.2215, F.S.;

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