Bill > SB6006

This bill creates the Tennessee Transportation Financing Authority (TTFA), a new public body corporate and instrumentality of the state designed to provide financing and refinancing for transportation infrastructure development. The authority will be composed of five key 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 (who will serve as vice chair and secretary). The TTFA will have broad powers to issue bonds, make loans, accept grants, enter into contracts, and support transportation projects without limitation on bond amounts. Importantly, these bonds will not constitute a general obligation of the state and will be payable solely from revenues generated by the projects. The authority can finance various transportation facilities including highways, bridges, tunnels, parking structures, transit systems, railways, ports, airports, and multimodal transportation infrastructure. The bill specifies detailed provisions for bond issuance, including interest rates, redemption terms, and financial protections for bondholders, and ensures that all expenses will be payable exclusively from project revenues. The legislation also provides specific guidelines for the authority's operations, financial management, and governance, emphasizing transparency and fiscal responsibility while giving the TTFA significant flexibility to support transportation infrastructure development in Tennessee.

Budget and Finance, Government Affairs, Transportation and Infrastructure

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB6006&ga=114