S.485 - Interstate Tolls Relief Act of 2001107th Congress (2001-2002)
|Sponsor:||Sen. Hollings, Ernest F. [D-SC] (Introduced 03/07/2001)|
|Committees:||Senate - Environment and Public Works|
|Latest Action:||Senate - 03/07/2001 Read twice and referred to the Committee on Environment and Public Works. (All Actions)|
This bill has the status Introduced
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Summary: S.485 — 107th Congress (2001-2002)All Information (Except Text)
Interstate Tolls Relief Act of 2001 - Amends the Transportation Equity Act for the 21st Century to repeal the Interstate System Reconstruction and Rehabilitation pilot program.
Introduced in Senate (03/07/2001)
Amends Federal transportation law to direct the Secretary of Transportation to permit Federal participation in reconstruction or replacement of a toll-free tunnel.
Specifies that before the Secretary may permit Federal participation in construction of a highway, bridge, or tunnel located in a State, the public authority having jurisdiction must enter into an agreement with the Secretary which provides that all toll revenues received from the operation of the toll facility will be used only for debt service, reasonable return on investment of any private person financing the project, and the costs necessary for the proper operation and maintenance of the toll facility.
Repeals a provision allowing the State, upon certifying annually that the tolled facility is being adequately maintained, to use any toll revenues in excess of amounts so required for any purpose for which Federal funds may be obligated by a State under Federal transportation provisions.