LD 123 LR 321(01)
An Act To Make Allocations from Maine Turnpike Authority Funds for the Maine Turnpike Authority for the Calendar Year Ending December 31, 2022
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Sen. Diamond of Cumberland
Committee: Transportation
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Current biennium cost increase - Maine Turnpike Authority
Fiscal Detail and Notes
This bill makes allocations from Maine Turnpike Authority funds of $50,188,574 for the authority's operating expenses for the calendar year ending December 31, 2022. Maine Turnpike Authority revenue of $154,556,527 is budgeted to fund those allocations. Included in the budgeted revenue but not allocated is $2,446,000 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 $40,000,000 for the Reserve Maintenance Fund, $41,243,000 for the Debt Service Fund and $20,678,953 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.