Bill Text: WV HB4772 | 2024 | Regular Session | Introduced

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Bill Title: Providing guidelines for the West Virginia Parkways Authority to cease tolls on the West Virginia Turnpike upon completion of all bond payments

Spectrum: Strong Partisan Bill (Republican 10-1)

Status: (Introduced - Dead) 2024-01-26 - To House Finance [HB4772 Detail]

Download: West_Virginia-2024-HB4772-Introduced.html

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WEST VIRGINIA LEGISLATURE

2024 REGULAR SESSION

Introduced

House Bill 4772

By Delegates Gearheart, Linville, Householder, Ellington, Smith, E. Pritt, Kump, Hornby, Pinson, Toney, and Campbell

[Introduced January 16, 2024; Referred
to the Committee on Technology and Infrastructure then Finance]

A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §17‑16A‑31, all relating to providing guidelines for the West Virginia Parkways Authority to cease tolls on the West Virginia Turnpike upon completion of all bond payments.

Be it enacted by the Legislature of West Virginia:

 

ARTICLE 16A. WEST VIRGINIA PARKWAYS AUTHORITY.

§17‑16A‑31.  Cessation of tolls.

 

(a) Except as provided in this section, when all bonds issued under the provisions of this article in connection with any parkway project or projects and the interest on those bonds have been paid or a sufficient amount for the payment of those bonds and the interest on them to their maturity has been set aside in trust for the benefit of the bondholders, the project or projects, if then in good condition and repair to the satisfaction of the Commissioner of the state Division of Highways, shall be transferred to the state Division of Highways and shall thereafter be maintained by the state Division of Highways free of tolls.

(b) Within 90 days of the final payment on all bonds authorized by this article, the Parkways Authority, or its successors, shall discontinue toll collection on the West Virginia Turnpike, all tolls shall be discontinued, and the associated toll facilities shall be removed.

 

 

NOTE: The purpose of this bill is to cease tolls on the West Virginia Turnpike upon completion of all bond payments.

Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.