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BILL AS INTRODUCED 2007-2008

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H.854

Introduced by Representatives Minter of Waterbury, Ancel of Calais, Anderson of Montpelier, Aswad of Burlington, Atkins of Winooski, Audette of S. Burlington, Barnard of Richmond, Bostic of St. Johnsbury, Branagan of Georgia, Brennan of Colchester, Browning of Arlington, Clarkson of Woodstock, Condon of Colchester, Consejo of Sheldon, Copeland-Hanzas of Bradford, Corcoran of Bennington, Deen of Westminster, Donaghy of Poultney, Evans of Essex, Fallar of Tinmouth, Fitzgerald of St. Albans City, French of Randolph, Gervais of Enosburg, Haas of Rochester, Heath of Westford, Helm of Castleton, Hosford of Waitsfield, Howard of Rutland City, Hunt of Essex, Hutchinson of Randolph, Jerman of Essex, Jewett of Ripton, Johnson of South Hero, Keenan of St. Albans City, Keogh of Burlington, Kitzmiller of Montpelier, Koch of Barre Town, Larson of Burlington, LaVoie of Swanton, Lenes of Shelburne, Leriche of Hardwick, Manwaring of Wilmington, Marek of Newfane, Martin of Wolcott, Masland of Thetford, McCormack of Rutland City, McCullough of Williston, McDonald of Berlin, Milkey of Brattleboro, Miller of Shaftsbury, Monti of Barre City, Mook of Bennington, Moran of Wardsboro, Mrowicki of Putney, Myers of Essex, Ojibway of Hartford, Orr of Charlotte, Peaslee of Guildhall, Pellett of Chester, Peltz of Woodbury, Perry of Richford, Peterson of Williston, Pillsbury of Brattleboro, Potter of Clarendon, Pugh of S. Burlington, Rodgers of Glover, Scheuermann of Stowe, Shand of Weathersfield, Sharpe of Bristol, Smith of Morristown, Wheeler of Derby and Zenie of Colchester

Referred to Committee on

Date:

Subject:  Transportation; bonding; GARVEE bond proposal; treasurer; structurally deficient bridges

Statement of purpose:  This bill proposes to direct the state treasurer to issue a request for proposal (RFP) to develop a Grant Anticipation Revenue Vehicles (“GARVEE”) bond proposal that will raise adequate funds which will result in reducing the number of structurally deficient bridges in the state by 50 percent in the next five years.

AN ACT RELATING TO THE ISSUANCE OF A GARVEE BOND PROPOSAL TO REDUCE STRUCTURALLY DEFICIENT BRIDGES

It is hereby enacted by the General Assembly of the State of Vermont:

Sec. 1.  TREASURER TO ISSUE GARVEE BOND PROPOSAL;

             STRUCTURALLY DEFICIENT BRIDGES

The state treasurer is directed to issue a request for proposal (RFP) to develop a Grant Anticipation Revenue Vehicles (“GARVEE”) bond proposal that will result in reducing the number of structurally deficient bridges in the state by 50 percent in the next five years.

Sec. 2.  EFFECTIVE DATE

This act shall take effect from passage, and the state treasurer shall issue a report, responding to the directive in Sec. 1 of this act, to the joint transportation oversight committee by October 15, 2008.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us