Florida Senate - 2010                                     SB 106
       
       
       
       By Senator Aronberg
       
       
       
       
       27-00131-10                                            2010106__
    1                        A bill to be entitled                      
    2         An act relating to transportation facilities; amending
    3         s. 334.30, F.S.; deleting a provision authorizing the
    4         Department of Transportation to lease existing toll
    5         facilities through public-private partnerships;
    6         providing an effective date.
    7  
    8  Be It Enacted by the Legislature of the State of Florida:
    9  
   10         Section 1. Subsection (2) of section 334.30, Florida
   11  Statutes, is amended to read:
   12         334.30 Public-private transportation facilities.—The
   13  Legislature finds and declares that there is a public need for
   14  the rapid construction of safe and efficient transportation
   15  facilities for the purpose of traveling within the state, and
   16  that it is in the public’s interest to provide for the
   17  construction of additional safe, convenient, and economical
   18  transportation facilities.
   19         (2) Agreements entered into pursuant to this section may
   20  authorize the private entity to impose tolls or fares for the
   21  use of the facility. The following provisions shall apply to
   22  such agreements:
   23         (a) With the exception of the Florida Turnpike System, the
   24  department may lease existing toll facilities through public
   25  private partnerships. The public-private partnership agreement
   26  must ensure that the transportation facility is properly
   27  operated, maintained, and renewed in accordance with department
   28  standards.
   29         (a)(b) The department may develop new toll facilities or
   30  increase capacity on existing toll facilities through public
   31  private partnerships. The public-private partnership agreement
   32  must ensure that the toll facility is properly operated,
   33  maintained, and renewed in accordance with department standards.
   34         (b)(c) Any toll revenues shall be regulated by the
   35  department pursuant to s. 338.165(3). The regulations governing
   36  the future increase of toll or fare revenues shall be included
   37  in the public-private partnership agreement.
   38         (c)(d) The department shall provide the analysis required
   39  in subparagraph (6)(e)2. to the Legislative Budget Commission
   40  created pursuant to s. 11.90 for review and approval prior to
   41  awarding a contract on a lease of an existing toll facility.
   42         (d)(e) The department shall include provisions in the
   43  public-private partnership agreement that ensure a negotiated
   44  portion of revenues from tolled or fare generating projects are
   45  returned to the department over the life of the public-private
   46  partnership agreement. In the case of a lease of an existing
   47  toll facility, the department shall receive a portion of funds
   48  upon closing on the agreements and shall also include provisions
   49  in the agreement to receive payment of a portion of excess
   50  revenues over the life of the public-private partnership.
   51         (e)(f) The private entity shall provide an investment grade
   52  traffic and revenue study prepared by an internationally
   53  recognized traffic and revenue expert that is accepted by the
   54  national bond rating agencies. The private entity shall also
   55  provide a finance plan that identifies the project cost,
   56  revenues by source, financing, major assumptions, internal rate
   57  of return on private investments, and whether any government
   58  funds are assumed to deliver a cost-feasible project, and a
   59  total cash flow analysis beginning with implementation of the
   60  project and extending for the term of the agreement.
   61         Section 2. This act shall take effect July 1, 2010.