Senate Bill sb2078
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Florida Senate - 2006 SB 2078
By Senator Geller
31-1383-06 See HB
1 A bill to be entitled
2 An act relating to the South Florida Regional
3 Transportation Authority; amending s. 343.54,
4 F.S.; revising provisions relating to powers
5 and duties of the authority; deleting the term
6 "commuter rail"; amending s. 343.55, F.S.;
7 providing pledge to bondholders that the state
8 will not alter certain rights vested in the
9 authority that affect the rights of bondholders
10 while bonds are outstanding; amending s.
11 343.58, F.S.; revising provisions for funding
12 of the authority; requiring counties served by
13 the authority to annually transfer certain
14 funds before a certain date; removing
15 provisions for sources of that funding;
16 removing authorization for a vehicle
17 registration tax; providing for certain funding
18 by the state to fund capital and operating and
19 maintenance expenses; revising county funding
20 amounts to fund operations; providing for
21 cessation of specified county funding
22 contributions and providing for certain
23 refunding of the contributions under certain
24 circumstances; revising the timeframe for
25 repeal of specified funding provisions under
26 certain circumstances; providing an effective
27 date.
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29 Be It Enacted by the Legislature of the State of Florida:
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Florida Senate - 2006 SB 2078
31-1383-06 See HB
1 Section 1. Paragraph (b) of subsection (1) of section
2 343.54, Florida Statutes, is amended to read:
3 343.54 Powers and duties.--
4 (1)
5 (b) It is the express intention of this part that the
6 authority be authorized to plan, develop, own, purchase,
7 lease, or otherwise acquire, demolish, construct, improve,
8 relocate, equip, repair, maintain, operate, and manage a
9 transit system and transit facilities; to establish and
10 determine the policies necessary for the best interest of the
11 operation and promotion of a transit system; and to adopt
12 rules necessary to govern the operation of a transit commuter
13 rail system and transit commuter rail facilities. It is the
14 intent of the Legislature that the South Florida Regional
15 Transportation Authority shall have overall authority to
16 coordinate, develop, and operate a regional transportation
17 system within the area served.
18 Section 2. Subsection (4) is added to section 343.55,
19 Florida Statutes, to read:
20 343.55 Issuance of revenue bonds.--
21 (4) The state pledges to and agrees with any person,
22 firm, corporation, or federal or state agency subscribing to
23 or acquiring the bonds to be issued by the authority for the
24 purposes of the South Florida Regional Transportation
25 Authority Act that the state will not limit or alter the
26 rights vested in the authority under this section until all
27 bonds at any time issued and secured by revenues remitted to
28 the authority pursuant to s. 343.58, together with the
29 interest thereon, are fully paid and discharged, insofar as
30 the same affects the rights of the holders of bonds issued
31 under this section.
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Florida Senate - 2006 SB 2078
31-1383-06 See HB
1 Section 3. Section 343.58, Florida Statutes, is
2 amended to read:
3 343.58 County funding for the South Florida Regional
4 Transportation Authority.--
5 (1) Each county served by the South Florida Regional
6 Transportation Authority must dedicate and transfer not less
7 than $2.67 million to the authority annually. The recurring
8 annual $2.67 million must be dedicated by the governing body
9 of each county prior to October 31 of each fiscal year by
10 August 1, 2003. Notwithstanding ss. 206.41 and 206.87, such
11 dedicated funding may come from each county's share of the
12 ninth-cent fuel tax, the local option fuel tax, or any other
13 source of local gas taxes or other nonfederal funds available
14 to the counties. In addition, the Legislature authorizes the
15 levy of an annual license tax in the amount of $2 for the
16 registration or renewal of registration of each vehicle taxed
17 under s. 320.08 and registered in the area served by the South
18 Florida Regional Transportation Authority. The annual license
19 tax shall take effect in any county served by the authority
20 upon approval by the residents in a county served by the
21 authority. The annual license tax shall be levied and the
22 Department of Highway Safety and Motor Vehicles shall remit
23 the proceeds each month from the tax to the South Florida
24 Regional Transportation Authority.
25 (2) The Legislature shall direct $50 million in
26 recurring funds to the authority. Funds may be used to fund
27 capital and operating and maintenance expenses of the South
28 Florida Regional Transportation Authority.
29 (3)(2) In addition, each county shall continue to
30 annually fund the operations of the South Florida Regional
31 Transportation Authority in an amount not less than $4.2
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Florida Senate - 2006 SB 2078
31-1383-06 See HB
1 $1.565 million. Revenue raised Such funds pursuant to this
2 subsection shall also be considered a dedicated funding
3 source.
4 (4) The current funding obligations under subsections
5 (1) and (3) shall cease upon commencement of the collection of
6 funding from the funding source under subsection (2). Should
7 the funding under subsection (2) be discontinued for any
8 reason, the funding obligations under subsections (1) and (3)
9 shall resume when collection from the funding source under
10 subsection (2) ceases. Payment by the counties will be on a
11 pro rata basis the first year following cessation of the
12 funding under subsection (2). The authority shall refund a pro
13 rata share of the payments for the current fiscal year made
14 pursuant to the current funding obligations under subsections
15 (1) and (3) as soon as reasonably practicable after it begins
16 to receive funds under subsection (2).
17 (5) If, by December 31, 2015 2009, the South Florida
18 Regional Transportation Authority has not received federal
19 matching funds based upon the dedication of funds under
20 subsection (1), subsection (1) shall be repealed.
21 Section 4. This act shall take effect July 1, 2006.
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