MTAC testifies on infrastructure bank legislation

This week, MTAC President Joe Sculley testified on a bill which would create a Connecticut Infrastructure Bank.

Sculley explained that MTAC is not necessarily opposed to the concept of an Infrastructure Bank. However, he suggested that the issue should be studied further before the legislature votes to create the proposed Bank.

Sculley said that the proposal would “finance a loan program with funds appropriated from the Special Transportation Fund or other sources of revenue designated for infrastructure improvements,” and he pointed out that the recently-enacted Constitutional lockbox requires that transportation revenue be deposited into the Special Transportation Fund. Therefore appropriating funds from the Special Transportation Fund to the Infrastructure Bank would violate the state Constitution.

He also pointed out that the proposal does not appear to adhere to any federal requirement for infrastructure spending. For example, this concept includes “airports and waterways” as potential projects eligible to be funded by the proposed infrastructure bank, but those are not Title 23 eligible projects which can be funded under state infrastructure banks as outlined by the Federal Highway Administration (FHWA).

To see a copy of the complete testimony, click here.