Florida Senate - 2019                          SENATOR AMENDMENT
       Bill No. CS/CS/CS/HB 385, 1st Eng.
       
       
       
       
       
       
                                Ì650860#Î650860                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                Floor: 1e/F/2R         .                                
             05/01/2019 11:26 AM       .                                
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       Senator Taddeo moved the following:
       
    1         Senate Amendment to Amendment (869784) (with title
    2  amendment)
    3  
    4         Delete lines 437 - 1545
    5  and insert:
    6         Section 11. (1) The Florida Transportation Commission shall
    7  contract with the Center for Urban Transportation Research at
    8  the University of South Florida to conduct an independent study
    9  with the input of the Miami-Dade Expressway Authority, Miami
   10  Dade County, and the Florida Department of Transportation for
   11  the purpose of submitting the report provided in subsection (2).
   12         (2) Before October 1, 2019, the Florida Transportation
   13  Commission shall submit a report to the Governor, the President
   14  of the Senate, and the Speaker of the House of Representatives
   15  assessing the findings of the study, including legal issues with
   16  respect to the creation of a new authority and transfer of its
   17  assets, liabilities, revenues, and operating expenses. The
   18  report must also provide an analysis of the impact of
   19  legislative action on bond rating, credit worthiness, bonding
   20  capacity, and interest rates to the toll payers of the
   21  authority. The report must provide a thorough financial analysis
   22  on any potential unintended statewide credit issues to other
   23  governmental agencies or authorities in the financial markets
   24  impacting future bond financing of infrastructure in this state.
   25  The report must analyze the feasibility of a toll rate
   26  reduction. In determining the financial feasibility of a toll
   27  rate reduction, the commission may consult with the Miami-Dade
   28  Expressway Authority’s bond counsel, and such counsel shall have
   29  the opportunity to respond to such report.
   30  
   31  ================= T I T L E  A M E N D M E N T ================
   32  And the title is amended as follows:
   33         Delete lines 1603 - 1787
   34  and insert:
   35         343.1003, F.S.; revising a cross-reference; requiring
   36         the Florida Transportation Commission to contract with
   37         the Center for Urban Transportation Research at the
   38         University of South Florida to conduct an independent
   39         study for a certain purpose, with the input of the
   40         Miami-Dade Expressway Authority, Miami-Dade County,
   41         and the Florida Department of Transportation;
   42         requiring the commission to submit a certain report to
   43         the Governor and the Legislature before a specified
   44         date; providing requirements for the report;
   45         authorizing the commission to consult with the
   46         authority’s bond counsel in determining the financial
   47         feasibility of a toll rate reduction; requiring the
   48         counsel to have the opportunity to respond to such
   49         report; providing effective dates.