S 55 STATE TRANSIT FUND

Sen Pete Campos

Actions: SPREF [1] STBTC/SFC-STBTC [8] DP-SFC

Scheduled: Not Scheduled

 Senate Bill 55 (SB 55) adds a new section to transportation statutes. SB 55 creates the State Transit Fund, allowing money in the fund to provide up to 50 percent of matching funds for public transport agencies.
 

 Senate Bill 55 (SB 55) Creates a new section entitled State Transit Fund.

A. The "State transit Fund" is created as a nonreverting fund in the state treasury. Subsection A specifies the types of funds to be administered by the Department of Transportation (DOT) to provide funds to public transit agencies as provided by this section. Subsection A specifies disbursements from the fund.
B. A public transit agency that submits a funding request to the DOT to match federal grant funds for general public transit operations and public transit infrastructure of a public transit agency shall be eligible to receive money from the State Transit Fund to provide up to 50 percent of the matching funds required to be provided by the public transit agency. Money in the fund shall not be used for expenses associated with commuter rail services.
C. Provides definitions as used in this section.