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House creates Tennessee Transportation Financing Authority to speed choice-lane projects
Summary
The House approved Senate Bill 6 to create the Tennessee Transportation Financing Authority, a conduit issuer intended to help finance transportation projects under the 2023 Transportation Modernization Act; sponsors said the authority will not obligate the state for private partners' debts and will include a sunset provision.
NASHVILLE — The Tennessee House on Jan. 30 approved Senate Bill 6, which creates the Tennessee Transportation Financing Authority as a conduit issuer to finance projects authorized under the Transportation Modernization Act of 2023.
Representative Greg Garrett, the bill’s House sponsor, said the authority will operate like the state funding board and act as a qualified public entity to allow private partners and qualified public entities to draw down federal financing and other investment opportunities for projects such as choice lanes. Garrett said the…
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