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HB 1008 - This act allows the state Highways and Transportation Commission to enter into binding highway infrastructure improvement agreements to reimburse any funds advanced by or for the benefit of a county, political subdivision, or private entity to expedite state road construction or improvement. Such agreements may provide for the assignment of the commission's reimbursement or repayment obligations in order to facilitate the funding of such improvements. The funds advanced by or for the benefit of the county, political subdivision, or private entity for the construction or improvement of state highway infrastructure shall be repaid by the commission from funds from the state road fund in a manner, time period, and interest rate agreed to upon by the respective parties. The commission may condition the reimbursement or repayment of such advanced funds upon projected highway revenues and may delay repayment of the advanced funds if highway revenues fall below the projections used to determine the repayment schedule or if repayment would jeopardize the receipt of federal highway moneys. STEPHEN WITTE
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