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Senate advances House Bill 53 to create transportation corridor preservation revolving loan fund
Summary
House Bill 53 would authorize a Transportation Commission-administered revolving loan fund to acquire and hold land for future transportation corridors; senators asked about funding sources, administration and property-rights protections and the bill passed to third reading with broad support.
Senators debated House Bill 53, a bill to establish a revolving loan fund managed by the Transportation Commission to preserve transportation corridors by acquiring land in advance of future projects.
Sponsor Senator Steele outlined the purpose: as population and land use patterns change, preserving corridors proactively avoids substantially…
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