1317-S AMH SCHD H2454.1

SHB 1317 - H AMD 199 ADOPTED 3/9/95

By Representatives D. Schmidt, Koster and Stevens

    On page 6, after line 9, insert the following:

    "Sec. 4.  RCW 47.46.050 and 1993 c 370 s 5 are each amended to read as follows:

(1) The department may enter into agreements using federal, state, and local financing in connection with the projects, including without limitation, grants, loans, and other measures authorized by section 1012 of ISTEA, and to do such things as necessary and desirable to maximize the funding and financing, including the formation of a revolving loan fund to implement this section.

(2) Agreements entered into under this section shall authorize the private entity to lease the facilities within a designated area or areas from the state and to impose user fees or tolls within the designated area to allow a reasonable rate of return on investment, as established through a negotiated agreement between the state and the private entity.  The negotiated agreement shall determine a maximum rate of return on investment, based on project characteristics.  If the negotiated rate of return on investment is not affected, the private entity may establish and modify toll rates and user fees.

(3) Agreements may establish "incentive" rates of return beyond the negotiated maximum rate of return on investment.  The incentive rates of return shall be designed to provide financial benefits to the affected public jurisdictions and the private entity, given the attainment of various safety, performance, or transportation demand management goals.  The incentive rates of return shall be negotiated in the agreement.

(4) Agreements shall require that over the term of the ownership or lease the user fees or toll revenues be applied to payment of the private entity's capital outlay costs for the project, including interest expense, the costs associated with operations, toll collection, maintenance and administration of the facility, reimbursement to the state for the costs of project review and oversight, technical and law enforcement services, establishment of a fund to assure the adequacy of maintenance expenditures, and a reasonable return on investment to the private entity.  The use of any excess toll revenues or user fees may be negotiated between the parties, but a negotiated agreement shall not extend the term of the ownership or lease beyond the period of time required for payment of the private entity's capital outlay costs for the project under this subsection.

    ((After expiration of the lease of a facility to a private entity, the secretary may continue to charge user fees or tolls for the use of the facility, with these revenues to be used for operations and maintenance of the facility, or to be paid to the local transportation planning agency, or any combination of such uses.))"

    Renumber the remaining sections consecutively and correct any internal references accordingly.

SHB 1317 - H AMD

By Representative D. Schmidt

    On page 1, line 2 of the title, strike "and 47.46.040" and insert ", 47.46.040, and 47.46.050"

EFFECT:  Provides that upon payment of costs authorized under the law, the agreement is terminated.  No tolls may be continued by the department after the termination of a lease with the private sector.

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