Senate Bill sb0432
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Florida Senate - 2007 SB 432
By Senator King
8-339A-07
1 A bill to be entitled
2 An act relating to transportation; amending s.
3 311.22, F.S.; revising funding for certain
4 dredging projects; amending s. 320.20, F.S.;
5 revising the distribution of license tax moneys
6 deposited in the State Transportation Trust
7 Fund for the funding of the Florida Seaport
8 Transportation and Economic Development Program
9 and certain seaport intermodal access projects;
10 requiring the Florida Seaport Transportation
11 and Economic Development Council to submit a
12 list of certain freight mobility projects to
13 the Department of Transportation; requiring
14 that the council and the department agree upon
15 the projects selected for funding; requiring
16 the department to include the selected projects
17 for funding in the tentative work program;
18 providing that refunding bonds shall be issued
19 by the Division of Bond Finance at the request
20 of the department; providing for funding the
21 construction of wharves and docks; requiring
22 that a certain sum of money be deposited in the
23 State Transportation Trust Fund for the funding
24 of the Florida Seaport Transportation and
25 Economic Development Program and certain
26 seaport intermodal access projects; providing
27 for distribution of revenues for the funding of
28 certain seaport intermodal access projects;
29 providing an effective date.
30
31 Be It Enacted by the Legislature of the State of Florida:
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1 Section 1. Subsection (1) of section 311.22, Florida
2 Statutes, is amended to read:
3 311.22 Additional authorization for funding certain
4 dredging projects.--
5 (1) The Florida Seaport Transportation and Economic
6 Development Council shall establish a program to fund dredging
7 projects in counties having a population of fewer than 300,000
8 according to the last official census. Funds made available
9 under this program may be used to fund approved projects for
10 the dredging or deepening of channels, turning basins, or
11 harbors on a 25-percent local 50-50 matching basis with any
12 port authority, as such term is defined in s. 315.02(2), which
13 complies with the permitting requirements in part IV of
14 chapter 373 and the local financial management and reporting
15 provisions of part III of chapter 218.
16 Section 2. Section 320.20, Florida Statutes, is
17 amended to read:
18 320.20 Disposition of license tax moneys.--The revenue
19 derived from the registration of motor vehicles, including any
20 delinquent fees and excluding those revenues collected and
21 distributed under the provisions of s. 320.081, must be
22 distributed monthly, as collected, as follows:
23 (1) The first proceeds, to the extent necessary to
24 comply with the provisions of s. 18, Art. XII of the State
25 Constitution of 1885, as adopted by s. 9(d), Art. XII, 1968
26 revised constitution, and the additional provisions of s. 9(d)
27 and s. 1010.57, must be deposited in the district Capital
28 Outlay and Debt Service School Trust Fund.
29 (2) Twenty-five million dollars per year of such
30 revenues must be deposited in the State Transportation Trust
31 Fund, with priority use assigned to completion of the
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1 interstate highway system. However, any excess funds may be
2 utilized for general transportation purposes, consistent with
3 the Department of Transportation's legislatively approved
4 objectives.
5 (3) Notwithstanding any other provision of law except
6 subsections (1) and (2), on July 1, 1996, and annually
7 thereafter, $15 million shall be deposited in the State
8 Transportation Trust Fund solely for the purposes of funding
9 the Florida Seaport Transportation and Economic Development
10 Program as provided for in chapter 311. Such revenues shall
11 be distributed to any port listed in s. 311.09(1), to be used
12 for funding projects as follows:
13 (a) For any seaport intermodal access projects that
14 are identified in the tentative work program of the Department
15 of Transportation for the 2007-2008 to 2011-2012 fiscal years,
16 up to the amounts needed to offset the funding requirements of
17 this section.
18 (b) For seaport intermodal access projects as
19 described in s. 341.053(5) which are identified in the 5-year
20 Florida Seaport Mission Plan as provided in s. 311.09(3),
21 funding shall require at least a 25-percent match of the funds
22 received pursuant to this subsection. Matching funds shall
23 come from any port funds, federal funds, local funds, or
24 private funds.
25 (c) For seaport projects as described in s.
26 311.07(3)(b), funds shall be provided on a 50-50 matching
27 basis.
28 (d) For seaport intermodal access projects that
29 involve the dredging or deepening of channels, turning basins,
30 or harbors, or the construction or rehabilitation of wharves,
31 docks, or similar structures, funding shall require at least a
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1 25-percent match of the funds received pursuant to this
2 subsection. Matching funds shall come from any port funds,
3 federal funds, local funds, or private funds. on a 50-50
4 matching basis to any port listed in s. 311.09(1) to be used
5 for funding projects as described in s. 311.07(3)(b).
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7 Such revenues may be assigned, pledged, or set aside as a
8 trust for the payment of principal or interest on bonds, tax
9 anticipation certificates, or any other form of indebtedness
10 issued by an individual port or appropriate local government
11 having jurisdiction thereof, or collectively by interlocal
12 agreement among any of the ports, or used to purchase credit
13 support to permit such borrowings. However, such debt shall
14 not constitute a general obligation of the State of Florida.
15 The state does hereby covenant with holders of such revenue
16 bonds or other instruments of indebtedness issued hereunder
17 that it will not repeal or impair or amend in any manner which
18 will materially and adversely affect the rights of such
19 holders so long as bonds authorized by this section are
20 outstanding. Any revenues which are not pledged to the
21 repayment of bonds as authorized by this section may be
22 utilized for purposes authorized under the Florida Seaport
23 Transportation and Economic Development Program. This revenue
24 source is in addition to any amounts provided for and
25 appropriated in accordance with s. 311.07. The Florida
26 Seaport Transportation and Economic Development Council shall
27 submit to the Department of Transportation a list of strategic
28 transportation, economic development, and freight mobility
29 projects that contribute to the economic growth of the state
30 and that approve distribution of funds to ports for projects
31 which have been approved pursuant to s. 311.09(5)-(9). The
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1 council and the Department of Transportation shall mutually
2 agree upon the prioritization and selection of projects for
3 funding. The Department of Transportation shall include the
4 selected projects for funding in the tentative work program
5 developed pursuant to s. 339.135. The council and the
6 Department of Transportation are authorized to perform such
7 acts as are required to facilitate and implement the
8 provisions of this subsection, including the funding of
9 approved projects by the use of other state funding programs,
10 local contributions from seaports, and the creative use of
11 federal funds. To better enable the ports to cooperate to
12 their mutual advantage, the governing body of each port may
13 exercise powers provided to municipalities or counties in s.
14 163.01(7)(d) subject to the provisions of chapter 311 and
15 special acts, if any, pertaining to a port. The use of funds
16 provided pursuant to this subsection are limited to eligible
17 projects listed in this subsection. Income derived from a
18 project completed with the use of program funds, beyond
19 operating costs and debt service, shall be restricted to
20 further port capital improvements consistent with maritime
21 purposes and for no other purpose. Use of such income for
22 nonmaritime purposes is prohibited. The provisions of s.
23 311.07(4) do not apply to any funds received pursuant to this
24 subsection. The revenues available under this subsection shall
25 not be pledged to the payment of any bonds other than the
26 Florida Ports Financing Commission Series 1996 and Series 1999
27 Bonds currently outstanding; provided, however, such revenues
28 may be pledged to secure payment of refunding bonds to
29 refinance the Florida Ports Financing Commission Series 1996
30 and Series 1999 Bonds. No refunding bonds secured by revenues
31 available under this subsection may be issued with a final
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1 maturity later than the final maturity of the Florida Ports
2 Financing Commission Series 1996 and Series 1999 Bonds or
3 which provide for higher debt service in any year than is
4 currently payable on such bonds. Any revenue bonds or other
5 indebtedness issued after July 1, 2000, including other than
6 refunding bonds, shall be issued by the Division of Bond
7 Finance at the request of the Department of Transportation
8 pursuant to the State Bond Act.
9 (4) Notwithstanding any other provision of law except
10 subsections (1), (2), and (3), on July 1, 1999, and annually
11 thereafter, $10 million shall be deposited in the State
12 Transportation Trust Fund solely for the purposes of funding
13 the Florida Seaport Transportation and Economic Development
14 Program as provided in chapter 311 and for funding seaport
15 intermodal access projects of statewide significance as
16 provided in s. 341.053. Such revenues shall be distributed to
17 any port listed in s. 311.09(1), to be used for funding
18 projects as follows:
19 (a) For any seaport intermodal access projects that
20 are identified in the 1997-1998 Tentative Work Program of the
21 Department of Transportation, up to the amounts needed to
22 offset the funding requirements of this section.
23 (b) For seaport intermodal access projects as
24 described in s. 341.053(5) that are identified in the 5-year
25 Florida Seaport Mission Plan as provided in s. 311.09(3).
26 Funding for such projects shall be on a matching basis as
27 mutually determined by the Florida Seaport Transportation and
28 Economic Development Council and the Department of
29 Transportation, provided a minimum of 25 percent of total
30 project funds shall come from any port funds, local funds,
31 private funds, or specifically earmarked federal funds.
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1 (c) On a 50-50 matching basis for projects as
2 described in s. 311.07(3)(b).
3 (d) For seaport intermodal access projects that
4 involve the dredging or deepening of channels, turning basins,
5 or harbors,; or the construction or rehabilitation of wharves,
6 docks, or similar structures. Funding for such projects shall
7 require a 25-percent match of the funds received pursuant to
8 this subsection. Matching funds shall come from any port
9 funds, federal funds, local funds, or private funds.
10
11 Such revenues may be assigned, pledged, or set aside as a
12 trust for the payment of principal or interest on bonds, tax
13 anticipation certificates, or any other form of indebtedness
14 issued by an individual port or appropriate local government
15 having jurisdiction thereof, or collectively by interlocal
16 agreement among any of the ports, or used to purchase credit
17 support to permit such borrowings. However, such debt shall
18 not constitute a general obligation of the state. This state
19 does hereby covenant with holders of such revenue bonds or
20 other instruments of indebtedness issued hereunder that it
21 will not repeal or impair or amend this subsection in any
22 manner which will materially and adversely affect the rights
23 of holders so long as bonds authorized by this subsection are
24 outstanding. Any revenues that are not pledged to the
25 repayment of bonds as authorized by this section may be
26 utilized for purposes authorized under the Florida Seaport
27 Transportation and Economic Development Program. This revenue
28 source is in addition to any amounts provided for and
29 appropriated in accordance with s. 311.07 and subsection (3).
30 The Florida Seaport Transportation and Economic Development
31 Council shall submit to the Department of Transportation a
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1 list of strategic transportation, economic development, and
2 freight mobility projects that contribute to the economic
3 growth of the state and approve distribution of funds to ports
4 for projects that have been approved pursuant to s.
5 311.09(5)-(9), or that have been approved for seaport
6 intermodal access projects identified in the 5-year Florida
7 Seaport Mission Plan as provided in s. 311.09(3) and mutually
8 agreed upon by the FSTED Council and the Department of
9 Transportation. The council and the Department of
10 Transportation shall mutually agree upon the prioritization
11 and selection of projects for funding. The Department of
12 Transportation shall include the selected projects for funding
13 in the tentative work program developed pursuant to s.
14 339.135. All contracts for actual construction of projects
15 authorized by this subsection must include a provision
16 encouraging employment of participants in the welfare
17 transition program. The goal for employment of participants in
18 the welfare transition program is 25 percent of all new
19 employees employed specifically for the project, unless the
20 Department of Transportation and the Florida Seaport
21 Transportation and Economic Development Council demonstrate
22 that such a requirement would severely hamper the successful
23 completion of the project. In such an instance, Workforce
24 Florida, Inc., shall establish an appropriate percentage of
25 employees that must be participants in the welfare transition
26 program. The council and the Department of Transportation are
27 authorized to perform such acts as are required to facilitate
28 and implement the provisions of this subsection, including the
29 funding of approved projects by the use of other state funding
30 programs, local contributions from seaports, and the creative
31 use of federal funds. To better enable the ports to cooperate
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1 to their mutual advantage, the governing body of each port may
2 exercise powers provided to municipalities or counties in s.
3 163.01(7)(d) subject to the provisions of chapter 311 and
4 special acts, if any, pertaining to a port. The use of funds
5 provided pursuant to this subsection is limited to eligible
6 projects listed in this subsection. The provisions of s.
7 311.07(4) do not apply to any funds received pursuant to this
8 subsection. The revenues available under this subsection shall
9 not be pledged to the payment of any bonds other than the
10 Florida Ports Financing Commission Series 1996 and Series 1999
11 Bonds currently outstanding; provided, however, such revenues
12 may be pledged to secure payment of refunding bonds to
13 refinance the Florida Ports Financing Commission Series 1996
14 and Series 1999 Bonds. No refunding bonds secured by revenues
15 available under this subsection may be issued with a final
16 maturity later than the final maturity of the Florida Ports
17 Financing Commission Series 1996 and Series 1999 Bonds or
18 which provide for higher debt service in any year than is
19 currently payable on such bonds. Any revenue bonds or other
20 indebtedness issued after July 1, 2000, including other than
21 refunding bonds, shall be issued by the Division of Bond
22 Finance at the request of the Department of Transportation
23 pursuant to the State Bond Act.
24 (5) Notwithstanding any other provision of law except
25 subsections (1), (2), (3), and (4), on July 1, 2007, and
26 annually thereafter, $10 million shall be deposited in the
27 State Transportation Trust Fund solely to fund the Florida
28 Seaport Transportation and Economic Development Program as
29 provided in chapter 311 and to fund seaport intermodal access
30 projects of statewide significance as provided in s. 341.053.
31
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1 Such revenues shall be distributed to any port listed in s.
2 311.09(1), to be used for funding projects as follows:
3 (a) For any seaport intermodal access projects that
4 are identified in the Tentative Work Program of the Department
5 of Transportation for the 2007-2008 to 2011-2012 fiscal years,
6 up to the amounts needed to offset the funding requirements of
7 this section.
8 (b) For seaport intermodal access projects as
9 described in s. 341.053(5) which are identified in the 5-year
10 Florida Seaport Mission Plan as provided in s. 311.09(3),
11 funding shall require at least a 25-percent match of the funds
12 received pursuant to this subsection. Matching funds shall
13 come from any port funds, federal funds, local funds, or
14 private funds.
15 (c) For seaport projects as described in s.
16 311.07(3)(b), funds shall be provided on a 50-50 matching
17 basis.
18 (d) For seaport intermodal access projects that
19 involve the dredging or deepening of channels, turning basins,
20 or harbors, or the construction or rehabilitation of wharves,
21 docks, or similar structures, funding shall require at least a
22 25-percent match of the funds received pursuant to this
23 subsection. Matching funds shall come from any port funds,
24 federal funds, local funds, or private funds.
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26 Such revenues may be assigned, pledged, or set aside as a
27 trust for the payment of principal or interest on bonds, tax
28 anticipation certificates, or any other form of indebtedness
29 issued by the Division of Bond Finance at the request of the
30 Department of Transportation pursuant to the State Bond Act.
31 However, such debt does not constitute a general obligation of
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1 the state. This state covenants with holders of such revenue
2 bonds or other instruments of indebtedness issued under this
3 subsection that it will not repeal or impair or amend this
4 subsection in any manner that will materially and adversely
5 affect the rights of holders so long as bonds authorized by
6 this subsection are outstanding. Any revenues that are not
7 pledged to the repayment of bonds as authorized by this
8 subsection may be used for purposes authorized under the
9 Florida Seaport Transportation and Economic Development
10 Program. This revenue source is in addition to any amounts
11 provided for and appropriated in accordance with s. 311.07 and
12 subsections (3) and (4). The Florida Seaport Transportation
13 and Economic Development Council shall submit to the
14 Department of Transportation a list of strategic
15 transportation, economic development, and freight mobility
16 projects that contribute to the economic growth of the state
17 and that have been approved pursuant to s. 311.09(5)-(9), or
18 that have been approved for seaport intermodal access projects
19 identified in the 5-year Florida Seaport Mission Plan as
20 provided in s. 311.09(3). The council and the Department of
21 Transportation shall mutually agree upon the prioritization
22 and selection of projects for funding. The Department of
23 Transportation shall include the selected projects for funding
24 in the tentative work program developed pursuant to s.
25 339.135. The council and the Department of Transportation may
26 perform such acts as are required to facilitate and implement
27 this subsection, including the funding of approved projects by
28 the use of other state funding programs, local contributions
29 from seaports, and the creative use of federal funds. To
30 better enable the ports to cooperate to their mutual
31 advantage, the governing body of each port may exercise powers
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1 provided to municipalities or counties in s. 163.01(7)(d),
2 subject to chapter 311 and any special acts pertaining to the
3 port. The use of funds provided under this subsection is
4 limited to eligible projects listed in this subsection.
5 Section 311.07(4) does not apply to any funds received
6 pursuant to this subsection. The Florida Ports Financing
7 Commission shall cause any revenue bonds or other indebtedness
8 issued pursuant to this subsection to be issued in a manner
9 that ensures that the greatest amount of revenue is available
10 for eligible port projects. The commission shall consult with
11 the Division of Bond Finance relating to the issuance of any
12 revenue bonds.
13 (6)(a)(5)(a) Except as provided in paragraph (c), the
14 remainder of such revenues must be deposited in the State
15 Transportation Trust Fund.
16 (b) The Chief Financial Officer each month shall
17 deposit in the State Transportation Trust Fund an amount,
18 drawn from other funds in the State Treasury which are not
19 immediately needed or are otherwise in excess of the amount
20 necessary to meet the requirements of the State Treasury,
21 which when added to such remaining revenues each month will
22 equal one-twelfth of the amount of the anticipated annual
23 revenues to be deposited in the State Transportation Trust
24 Fund under paragraph (a) as determined by the Chief Financial
25 Officer after consultation with the revenue estimating
26 conference held pursuant to s. 216.136(3). The transfers
27 required hereunder may be suspended by action of the
28 Legislative Budget Commission in the event of a significant
29 shortfall of state revenues.
30 (c) In any month in which the remaining revenues
31 derived from the registration of motor vehicles exceed
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1 one-twelfth of those anticipated annual remaining revenues as
2 determined by the Chief Financial Officer after consultation
3 with the revenue estimating conference, the excess shall be
4 credited to those state funds in the State Treasury from which
5 the amount was originally drawn, up to the amount which was
6 deposited in the State Transportation Trust Fund under
7 paragraph (b). A final adjustment must be made in the last
8 months of a fiscal year so that the total revenue deposited in
9 the State Transportation Trust Fund each year equals the
10 amount derived from the registration of motor vehicles, less
11 the amount distributed under subsection (1). For the purposes
12 of this paragraph and paragraph (b), the term "remaining
13 revenues" means all revenues deposited into the State
14 Transportation Trust Fund under paragraph (a) and subsections
15 (2) and (3). In order that interest earnings continue to
16 accrue to the General Revenue Fund, the Department of
17 Transportation may not invest an amount equal to the
18 cumulative amount of funds deposited in the State
19 Transportation Trust Fund under paragraph (b) less funds
20 credited under this paragraph as computed on a monthly basis.
21 The amounts to be credited under this and the preceding
22 paragraph must be calculated and certified to the Chief
23 Financial Officer by the Executive Office of the Governor.
24 Section 3. This act shall take effect July 1, 2007.
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2 SENATE SUMMARY
3 Modifies the funding for certain dredging projects in
specified counties. Revises the distribution of certain
4 license tax moneys used for certain seaport intermodal
access projects. Requires the Florida Seaport
5 Transportation and Economic Development Council to submit
a list of certain projects to the Department of
6 Transportation and requires that both entities select
projects for funding. Provides for the issuance of
7 refunding bonds by the Division of Bond Finance. Provides
for funding the construction of wharves and docks.
8 Provides funding for the Florida Seaport Transportation
and Economic Development Program and certain seaport,
9 intermodal access projects. Provides for the distribution
of revenue for such projects.
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