Florida Senate - 2013 SENATOR AMENDMENT
Bill No. CS/CS/HB 7125, 1st Eng.
Barcode 569180
LEGISLATIVE ACTION
Senate . House
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Floor: 1w/RE/2R .
05/02/2013 07:41 AM .
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Senator Brandes moved the following:
1 Senate Amendment to Amendment (218538) (with title
2 amendment)
3
4 Between lines 3604 and 3605
5 insert:
6 Section 61. Section 339.0801, Florida Statutes, is amended
7 to read:
8 339.0801 Allocation of increased revenues derived from
9 amendments to s. 319.32(5)(a) by ch. 2012-128.—Funds that result
10 from increased revenues to the State Transportation Trust Fund
11 derived from the amendments to s. 319.32(5)(a) made by this act
12 must be used annually, first as set forth in subsection (1) and
13 then as set forth in subsections (2)-(5),as follows,
14 notwithstanding any other provision of law:
15 (1)(a) In the 2012-2013 fiscal year, $200 million, or
16 actual receipts up to $200 million, shall be transferred to the
17 General Revenue Fund.
18 (b) The Department of Transportation shall transfer the
19 actual receipts monthly to the General Revenue Fund. These
20 transfers shall be made in the month following the deposit of
21 those receipts into the State Transportation Trust Fund.
22 (2) Beginning in the 2013-2014 fiscal year and annually for
23 up to 30 years thereafter, $10 million shall be for the purpose
24 of funding any seaport project identified in the adopted work
25 program of the Department of Transportation, to be known as the
26 Seaport Investment Program.
27 (b) The revenues may be assigned, pledged, or set aside as
28 a trust for the payment of principal or interest on revenue
29 bonds, tax anticipation certificates, or other forms of
30 indebtedness issued by an individual port or appropriate local
31 government having jurisdiction thereof, or collectively by
32 interlocal agreement among any of the ports, or used to purchase
33 credit support to permit such borrowings. Alternatively, revenue
34 bonds shall be issued by the Division of Bond Finance at the
35 request of the Department of Transportation under the State Bond
36 Act and shall be secured by such revenues as are provided in
37 this subsection.
38 (c) However, the debt is Revenue Bonds or other
39 indebtedness issued hereunder are not a general obligation of
40 the state and are secured solely by a first lien on the revenues
41 distributed under this subsection.
42 (d) The state covenants with holders of the revenue bonds
43 or other instruments of indebtedness issued pursuant to this
44 subsection that it will not repeal or impair or amend this
45 subsection; in any manner nor take any other action, including
46 but not limited to amending this subsection, that will
47 materially and or adversely affect the rights of such holders so
48 long as revenue bonds or other indebtedness authorized by this
49 subsection are outstanding.
50 (e) The proceeds of any revenue bonds or other indebtedness
51 secured by a pledge of the funding, after payment of costs of
52 issuance and establishment of any required reserves, shall be
53 invested in projects approved by the Department of
54 Transportation and included in the department’s adopted work
55 program, by amendment if necessary. As required under s. 11(f),
56 Art. VII of the State Constitution, the Legislature approves
57 projects included in the department’s adopted work program,
58 including any projects added to the work program by amendment
59 under s. 339.135(7), F.S.
60 (f) Any revenues that are not used for pledged to the
61 payment repayment of bonds as authorized by this subsection
62 section may be used for purposes authorized under the Florida
63 Seaport Transportation and Economic Development Program. This
64 revenue source is in addition to any amounts provided for and
65 appropriated in accordance with ss. 311.07 and 320.20(3) and
66 (4). Revenue bonds shall be issued by the Division of Bond
67 Finance at the request of the Department of Transportation
68 pursuant to the State Bond Act.
69 (2)(3) Beginning in the 2013-2014 fiscal year and annually
70 for up to 30 years thereafter, $35 million shall be transferred
71 to Florida’s Turnpike Enterprise, to be used in accordance with
72 Florida Turnpike Enterprise Law, to the maximum extent feasible
73 for feeder roads, structures, interchanges, appurtenances, and
74 other rights to create or facilitate access to the existing
75 turnpike system.
76 (3)(4) Beginning in the 2013-2014 fiscal year and annually
77 thereafter, $10 million shall be transferred to the
78 Transportation Disadvantaged Trust Fund, to be used as specified
79 in s. 427.0159.
80 (4)(5) Beginning in the 2013-2014 fiscal year and annually
81 thereafter, $10 million shall be allocated to the Small County
82 Outreach Program, to be used as specified in s. 339.2818. These
83 funds are in addition to the funds provided in s.
84 201.15(1)(c)1.b.
85 (5)(6) After the distributions required pursuant to
86 subsections (1)-(4)(5), the remaining funds shall be used
87 annually for transportation projects within this state for
88 existing or planned strategic transportation projects which
89 connect major markets within this state or between this state
90 and other states, which focus on job creation, and which
91 increase this state’s viability in the national and global
92 markets.
93 (6)(7) Pursuant to s. 339.135(7), the department shall
94 amend the work program to add the projects provided for in this
95 section.
96
97 ================= T I T L E A M E N D M E N T ================
98 And the title is amended as follows:
99 Between lines 4924 and 4925
100 insert:
101 339.0801, F.S.; requiring the increased revenues
102 derived from amendments to s. 319.32(5)(a) by ch.
103 2012-128 to be first annually used beginning in FY
104 2013-2014 and for 30 years thereafter to fund seaport
105 projects identified in the department’s adopted work
106 program; removing the authority to assign, pledge, or
107 set aside revenues for the payment of principal or
108 interest on tax anticipation certificates; providing
109 that revenue bonds other indebtedness are secured
110 solely by first lien, revising provisions fof the
111 protection of bondholders; amending s.