Transportation Dept., Ala. Federal Fund Exchange Program, political subdivisions or public corporation authorized to puchase fed. transportation funds at a discount, work to be performed by state residents, reports to Jt. Transportation Committee, Ala. Fed. Fund Exchange Program
This bill would create the Alabama Federal Fund Exchange Program to provide eligible entities and the Alabama Department of Transportation with greater flexibility in funding transportation projects
To establish the Alabama Federal Fund Exchange Program; to provide authority for the Alabama Department of Transportation or political or governmental subdivision or public corporation to enter into agreements with a political or governmental subdivision or public corporation to exchange federal transportation funds; to allow the Alabama Department of Transportation to set an appropriate exchange rate; to require a political or governmental subdivision or public corporation to submit required documentation for the exchange program; and to require the Alabama Department of
Transportation to report annually to the Joint Transportation Committee on any agreements entered into during the previous fiscal year.
January 9, 2018
Read for the first time and referred to the Senate committee on Transportation and Energy