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Thu June 18, 2009
Committee Discusses Mega Site Bill
By Carrie Pond
Frankfort, KY – The head of Kentucky's Senate Transportation committee anticipates some modification in the house-approved mega projects legislation. The bill allows for the establishment of infrastructure authorities. Those authorities could implement tolls to pay for so-called mega projects with a price tag of a half a billion dollars or more. Senate committee chair Ernie Harris says legislative oversight is a key issue.
And we want to make sure it's very clear the finance plan created by the authorities is solid, is valid, that we can afford it.
Harris believes any bonding initiated by the newly-created authorities could affect the state's overall bond rating. He says the existing Kentucky Turnpike Authority is a topic of discussion among senators, but that it's too soon to say the entity will be part of any proposed legislation. Harris says a committee vote could be held today.