BILL REQ. #:  S-3396.1 

Read first time 01/15/10.   Referred to Committee on Transportation.

     AN ACT Relating to the authorization, administration, and collection of tolls on the state route number 99 Alaskan Way viaduct corridor; adding a new section to chapter 47.56 RCW; and creating a new section.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION.  Sec. 1   The legislature finds that beginning early tolling on the existing Alaskan Way viaduct will (1) assure that all funding necessary to complete the state route number 99 Alaskan Way viaduct corridor project is available, (2) reduce the cost of bonding applicable to the project, and (3) if necessary, provide additional contingency funds for the project.

NEW SECTION.  Sec. 2   A new section is added to chapter 47.56 RCW under the subchapter heading "toll facilities created after July 1, 2008" to read as follows:
     (1) The initial imposition of tolls on the state route number 99 Alaskan Way viaduct corridor is authorized, the state route number 99 Alaskan Way viaduct corridor is designated an eligible toll facility, and toll revenue generated in the corridor must only be expended as allowed under RCW 47.56.820.
     (2) The state route number 99 Alaskan Way viaduct corridor consists of that portion of state route number 99 in the city of Seattle between Holgate Street and Mercer Street.
     (3)(a) Tolling must commence on the state route number 99 Alaskan Way viaduct corridor concurrently with tolling commencement on the state route number 520 bridge, or as soon as is practicable.
     (b) In setting the toll rates for the corridor pursuant to RCW 47.56.850, the tolling authority shall set a variable schedule of toll rates to maintain travel time, speed, and reliability on the corridor.
     (c) The tolling authority shall initially set the variable schedule of toll rates, which the tolling authority may adjust at least annually to reflect inflation as measured by the consumer price index or as necessary to meet the redemption of bonds and interest payments on the bonds, to generate revenue for the purpose of completing funding for the state portion of the state route number 99 Alaskan Way viaduct corridor project.
     (4) All of the tolls and other revenues received from the operation of the state route number 99 Alaskan Way viaduct corridor as a toll facility are to be deposited at least monthly into the motor vehicle fund and designated solely for the purpose of funding the state portion of the state route number 99 Alaskan Way viaduct corridor project.
     (5) Funds from tolls on the state route number 99 Alaskan Way viaduct corridor may not be used for any utility relocation costs, or for central seawall or waterfront promenade improvements.