This bill establishes a highway tolling program in Wyoming, empowering the Wyoming Transportation Commission to impose tolls on interstates and state highways. It creates a special toll revenue account for the exclusive use of repaying debt related to tolling projects and authorized expenditures. The bill requires the development of a project master plan, which includes project goals, construction phasing, tolling approaches, and financial plans, all of which must receive approval from the commission and the legislature prior to implementation. The commission is also granted the authority to issue revenue bonds to finance these projects, with the stipulation that the bonds are payable solely from toll revenues.

Furthermore, the bill amends existing laws concerning the issuance and management of project revenue bonds, clarifying that these bonds will be secured only by pledged revenues and will not be considered general obligations of the state. It specifies that the principal and interest on these bonds are exempt from state and local taxes, reinforcing their status as valid investments for financial institutions. Additionally, the bill modifies provisions related to the state highway fund, ensuring that 75% of any bond issue for state highway construction, after overhead expenses, is allocated to counties based on assessed valuations. The act is set to take effect immediately upon completion of the necessary legislative processes.

Statutes affected:
26LSO-0108 v0.8: 24-1-119, 24-8-101