LD 228 LR 1692(02)
An Act To Make Allocations from Maine Turnpike Authority Funds for the Maine Turnpike Authority for the Calendar Year Ending December 31, 2016
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Transportation
Fiscal Note Required: Yes
Fiscal Note
Current biennium cost increase - Maine Turnpike Authority
Fiscal Detail and Notes
This bill makes allocations from Maine Turnpike Authority funds of $40,655,249 for the authority's operating expenses for the calendar year ending December 31, 2016.  Maine Turnpike Authority revenue of $131,995,373 is budgeted to fund those allocations.  Included in the budgeted revenue but not allocated is $3,700,613 to pay off bonds authorized by the Legislature for specified Department of Transportation projects.  These bonds were issued by the Maine Turnpike Authority pursuant to the Maine Revised Statutes, Title 23, section 1968, subsection 2-A.  This bill also includes budgeted revenue of $37,000,000 for the Reserve Maintenance Fund, $35,089,696 for the Debt Service Fund and $15,549,815 for capital improvements at new interchanges.  The funds that are not allocated in the bill are not subject to the transfer limitations in section 2 of the bill.