Bill > HB6006

This bill creates the Tennessee Transportation Financing Authority (TTFA), a new public body corporate and state instrumentality designed to provide financing and refinancing for transportation infrastructure development. The authority will be governed by a board composed of five state officials, including the governor (who will serve as chair), the commissioner of finance and administration, the state treasurer, the secretary of state, and the comptroller of the treasury. The TTFA will have broad powers to issue bonds, make loans, accept grants, enter into contracts, and support transportation facility development without being limited by traditional governmental constraints. The authority can issue bonds without restriction on amount, set its own interest rates, and enter into various financial agreements to support transportation projects. Importantly, these bonds will not be considered state debt and will be payable solely from the authority's revenues. The bill also specifies that the TTFA is attached administratively to the comptroller's office and provides detailed definitions and operational guidelines for how the authority will function, including provisions for bond issuance, financial management, and project financing. The legislation aims to create a flexible, financially independent mechanism for supporting transportation infrastructure investments in Tennessee.

Government Affairs, Transportation and Infrastructure

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB6006&ga=114