HB 491 Sharpe, Greg
HB 491 -- WATERWAYS AND PORTS TRUST FUND
SPONSOR: Sharpe (4)
This bill establishes the "Waterways and Ports Trust Fund" which shall consist of revenues appropriated to it by the General Assembly. The fund may also receive contributions from federal, private, or other sources.
Moneys in the fund shall be withdrawn only upon appropriation by the General Assembly to be administered by the State Highways and Transportation Commission and the Department of Transportation for the purposes of state-authorized grants. To be eligible a project must be:
(1) A capital improvement project implementing physical improvements designed to improve commerce or terminal and transportation facilities on or adjacent to the navigable rivers of this state;
(2) Located on land owned by a Missouri port authority, or within a navigable river adjacent to such land, and within the boundaries of a port authority;
(3) Funded by alternate sources so that moneys from the fund comprise no more than 80% of the cost of the project;
(4) Selected and approved by the Highways and Transportation Commission, with input from stakeholders, to support a statewide plan for waterborne commerce, in accordance with subdivision (1) of Section 68.065, RSMo; and
(5) Capable of completion within two years of approval by the Highways and Transportation Commission.
The provisions of this section will terminate on August 28, 2033, pending the discharge of all warrants. On December 31, 2033, the fund shall be dissolved and the unencumbered balance shall be transferred to the General Revenue Fund.
This bill is the same as HB 476 and SB 265 (2023)