S257 - Appropriations Act of 2017. (SL 2017-57)

Overview: Section 34.19 of S.L. 2017-57 allocates funds appropriated from the Highway Fund to the Department of Transportation for capital improvements at commercial airports for 2017-2018 and 2018-2019 and provides:

• Funds may be used for airport improvements or paying debt service or financing costs on bonds or notes.
• Appropriation of funds and issuance of bonds or notes by airports in reliance thereon does not constitute a pledge of faith and credit and taxing power of the State, and the General Assembly is not prohibited from amending appropriations at any time.
• The Department is required to report to the Joint Legislative Transportation Oversight Committee on the use of funds by each airport by March 1, 2019.
• The Division of Aviation is required to develop a funding needs assessment setting out the amount of funds needed by each airport and what projects would be funded using the funds. The Division is to use the data to develop a formula for allocating State funds to commercial airports and report the funding needs assessment and description of the formula by April 15, 2018, to the chairs of the House Appropriations Committee on Transportation, the chairs of the Senate Appropriations Committee on the Department of Transportation, and the Fiscal Research Division.

This section became effective July 1, 2017.