Sponsor Statement for HB 316

Authorizing Projects for Financing from the Public Facilities Financing Corporation

This bill authorizes projects for funding by the Public Facilities Financing Corporation (PFFC). This is the legislative action requires prior to any action by the PFFC. It is through this mechanism that the legislature maintains control of the projects and amounts that will be funded by the Corporation. The Corporation has no independent authority to fund projects though its bonding.

Projects in this bill are prioritized by year and are organized by categories. The proposal assures every category receives annual funding. This assures that even those projects necessary for state operations with less popular or geographical appeal will receive funding. The initial proposal from the Deferred Maintenance Task Force suggests all the identified deferred maintenance be addressed in a six year period.