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Panel approves state transportation financing authority to enable private investment without state debt
Summary
The Transportation and Safety Committee approved Senate Bill 6006 to create the Tennessee Transportation Financing Authority as a conduit issuer for private activity bonds under the Transportation Modernization Act; the measure passed 8–1 and now goes to the State and Local Committee.
Senate Bill 6006, sponsored in committee by Senator Hill, would create the Tennessee Transportation Financing Authority to act as a public conduit issuer so private developers can access tax-advantaged, tax-exempt private activity bonds for projects under the Transportation Modernization Act.
The bill’s sponsor said the authority would be attached to the Comptroller of the Treasury for administrative purposes and composed of the…
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