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Transportation Funding & Financing

State Infrastructure Bank (SIB) Legislation

SIB can provide many types of financial assistance, ranging from loans to credit enhancements. Forms of assistance may include interest subsidies, letters of credit, capital reserves for bond financing, construction loans, and purchase and lease agreements for highway and transit projects.

More about SIBs in the Financing section of the Clearinghouse website

The following sections provide brief overviews of active SIBs in different states, together with links to the enabling legislation that established them.

Florida SIB Legislation

As of May 31, 2007, approximately $509.9 million has been capitalized (includes interest earnings) in the combined SIB program ($149.2 million in the federal-funded SIB, $360.7 million in the state-funded SIB, and $0 in the emergency SIB, since established in law). SIB funds may be loaned to a variety of public and private entities, and may be used for various forms of financial assistance such as subordinated loans, interest subsidies, letters of credit, capital reserves for bond financing and construction loans. As of May 31, 2007, FDOT has approved a total of 60 applications with total SIB assistance of $1.053 billion that leverages $8.155 billion in total project investment.

A number of innovations have been made to Florida SIB legislation over time. Florida DOT's SIB website provides extensive documentation on the SIB program and the projects it has supported, together with links to related legislation and statutes.

The 2008 Florida Statutes

Arizona SIB Legislation

The Arizona State Legislature approved the states SIB program with SB1201, which provided SIB funding to assist in financing the acceleration of the Regional Freeway Program. Article 28-7674 established the SIB program. Arizona SIB legislation. Known as the Highway Expansion and Extension Loan Program (HELP), as of 2008, a total of 63 HELP loans have been approved since the SIB's inception, providing $665 million in financial assistance to transportation projects. Of the approved loans, 41 have been fully repaid representing a combined total of $482 million. ADOT's maintains an excellent website for the HELP providing access to annual reports and a variety of other materials.

Minnesota SIB Legislation

The Minnesota Department of Transportation (MnDOT) established the Transportation Revolving Loan Fund (TRLF) in 1997. The TRLF operates much like a commercial bank providing low interest loans to cities, counties, and other governmental entities for eligible transportation projects. When the loans are repaid, the funds are returned to the TRLF and used to finance additional transportation projects.

The TRLF was created by the state law pursuant to Minnesota State Law 446A.085 Transportation revolving loan fund.

TRLF's comprehensive web site
Provides information on all aspects of its activities, including a listing of all TRLF loans and the projects they support.