This bill amends RSA 228:12-a to remove the specific project limitation related to the Nashua-Manchester-Concord project, thereby allowing for a broader application of toll credits. The new legal language permits municipal, county, and non-profit projects to purchase toll credits at a discount of at least 50 percent of their face value, which can be used as a match for federal highway funds. Additionally, the bill eliminates the requirement for departmental or legislative approval for the use of these toll credits, streamlining the process for eligible projects.

The bill aims to enhance access to turnpike toll credits (TTC) for local entities, facilitating their ability to meet federal funding match requirements. However, it is noted that the implementation of this bill is contingent upon federal authority and legislation, as the current framework does not allow for the sale or purchase of TTCs. Consequently, while the bill proposes significant changes to the use of toll credits, its practical impact may be limited until the necessary federal regulations are established.

Statutes affected:
Introduced: 228:12-a
SB458 text: 228:12-a