Repealing a requirement that the Capital Debt Affordability Committee include certain debt that is secured by future federal aid within its review of State tax supported debt; altering the calculation of the maximum amount of debt secured by future federal aid that the Department of Transportation may issue; providing that the maximum amount of debt that may be issued is calculated as of June 30; altering the maximum term of certain bonds that are secured by a pledge of future federal aid; etc.

Statutes affected:
Text - First - Department of Transportation - Consolidated Transportation Program and Debt Limit of Grant Anticipation Revenue Vehicle Bonds (State and Federal Transportation Funding Act): 2-103.1 Transportation, 3-601 Transportation, 3-215 Transportation
Text - Third - Department of Transportation - Grant Anticipation Revenue Vehicle Bonds and Grant Anticipation Notes (State and Federal Transportation Funding Act): 8-104 State Finance and Procurement, 2-103.1 State Finance and Procurement, 3-601 State Finance and Procurement, 3-215 State Finance and Procurement