Colorado Legislative Council Staff
STATE
REVISED CONDITIONAL FISCAL IMPACT
(Replaces fiscal impact dated February 18, 1999)
Drafting Number: Prime Sponsor(s): |
LLS 99-0495 Sen. Andrews Rep. Young |
Date: Bill Status: Fiscal Analyst: |
March 15, 1999 House Appropriations Scott Nachtrieb (303-866-4752) |
TITLE: CONCERNING HIGH OCCUPANCY VEHICLE LANES.
Fiscal Impact Summary |
FY 1999/2000 |
FY 2000/2001 |
State Revenues Cash Fund |
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State Expenditures Cash Fund |
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FTE Position Change |
0.0 FTE |
0.0 FTE |
Other State Impact: Possible TABOR implications in future years from toll revenue |
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Effective Date: 90 days after adjournment unless a petition is filed |
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Appropriation Summary for FY 1999-2000: None |
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Local Government Impact: None |
Summary of Legislation
The reengrossed bill, as amended by the House Transportation and Energy Committee, March 11, 1999, would allow the Department of Transportation (CDOT) to submit a request for proposal (RFP) by July 1, 2001, to convert an existing high occupancy vehicle (HOV) lane to a high occupancy toll (HOT) lane through public private partnership, or if no bids are received, to convert an existing HOV lane to a HOT lane. The conversion would depend upon federal approval and a guarantee that there would be no loss or repayment of federal funds.
State Revenues
The reengrossed bill as amended would have a conditional fiscal impact from increased toll revenues at some time in the future. The fiscal impact would depend upon the federal government approving this conversion without the loss or repayment of federal money. Should the federal government require repayment of the lane conversion, CDOT would probably not proceed and there would be no expenditure or revenue change.
The reengrossed bill would allow, with federal approval, the CDOT to submit an RFP by July 1, 2001, for the conversion of an HOV lane to a HOT lane. The reengrossed bill would allow the private contractor to receive repayment of the conversion and operation of the HOT lane from the tolls assessed for HOT lane vehicles and a reasonable profit. Tolls would have to be structured so that those vehicles which are allowed free access would have access at all times without restrictions. Excess toll revenue would be credited to the State Highway Fund. When the terms of the contract are fulfilled with the vendor and excess tolls are deposited into the State Highway Fund, the state would receive additional cash fund revenue.
State Expenditures
As amended, the reengrossed bill would not require any state expenditure.
State Appropriations
This fiscal note would imply that no additional appropriation would be required to implement this bill.
Departments Contacted
Transportation