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Senate approves substitute moving CIB funds for infrastructure; debate centers on $53M throughput investment at private Oakland port
Summary
Lawmakers approved a second substitute to Senate Bill 246 that routes Community Impact Board funds and directs infrastructure funding, prompting extended floor debate over a proposed $53 million use of CIB savings toward throughput capacity at a private deep-water port project. Senators questioned legal review, market risk and whether the state assumes financial exposure.
The Utah Senate passed a second substitute to Senate Bill 246 on March 7 that redirects administration of certain infrastructure funding to the Community Impact Board (CIB) and authorizes a mechanism by which the CIB could use its federal royalty-derived funds (traded for state funds) to support throughput capacity at a private deep-water port project off the West Coast.
Sponsor Senator Adams said the substitute returns the funding vehicle to the CIB and allows local counties to use federal royalty dollars in coordination with state funds to pursue economic development. "This money's actually allow us to have throughput through that port," Adams said…
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