2010 Pennsylvania Code
Title 75 - VEHICLES
Chapter 89 - Pennsylvania Turnpike
8915.3 - Lease of Interstate 80; related agreements.

     § 8915.3.  Lease of Interstate 80; related agreements.
        The department and the commission shall enter into a lease
     agreement relating to Interstate 80 prior to October 15, 2007.
     The lease agreement shall include provisions setting forth the
     terms and conditions of the conversion of Interstate 80 to a
     toll road. The lease agreement and any related agreement, at a
     minimum, shall include the following:
            (1)  A provision that the term of the lease agreement
        shall be 50 years, unless extended upon mutual agreement of
        the parties to the lease agreement and upon approval of the
        General Assembly.
            (2)  A provision establishing the conversion period and
        authorizing extension of the conversion period at the sole
        option of the commission for three one-year extension periods
        after consultation with the secretary. The commission shall
        notify the secretary of its intent to extend the conversion
        period not less than 90 days before the scheduled expiration
        of the conversion period. During the conversion period, all
        legal, financial and operational responsibility for
        Interstate 80 shall remain with the department. All
        operations and programmed rehabilitation shall be maintained
        at levels no less favorable than those set forth in the
        department's 12-year plan at the time of the execution of the
        lease, with modifications as are approved in writing by the
        chairman of the commission.
            (3)  A provision permitting the commission to exercise
        its option to convert Interstate 80 to a toll road prior to
        the expiration of the conversion period by providing the
        conversion notice to the secretary. Beginning on the
        conversion date, all legal, financial and operational
        responsibility for Interstate 80, as well as all toll
        revenues subsequently collected with respect to its use,
        shall automatically transfer to the commission. The
        secretary, within five business days after receiving the
        conversion notice, shall forward notice of the conversion
        date to the Legislative Reference Bureau for publication in
        the Pennsylvania Bulletin. Any revenues collected prior to
        the conversion date shall be retained by the department. The
        commission may contract with the department for any portion
        of the maintenance of Interstate 80 at cost levels agreed to
        by the department and the commission.
            (4)  A provision requiring the commission to pay annual
        base payments to the department during the term of the lease
        agreement.
            (5)  A provision requiring the commission to pay annual
        additional payments to the department. The annual additional
        payments shall be payable in four equal installments on the
        last business day of each July, October, January and April of
        each year during the term of the lease agreement.
            (6)  A provision requiring the commission to pay,
        commencing in the fiscal year including the conversion date,
        annual surplus payments to the department. The annual surplus
        payments shall be payable by the commission within 30 days of
        receipt by the commission of the Auditor General's
        certificate.
            (7)  A provision stating that the obligation of the
        commission to pay the annual base payments, the annual
        additional payments and annual surplus payments shall be a
        subordinate obligation of the commission payable from amounts
        in the general reserve fund of the commission only as
        permitted by any financing documents, financial covenants,
        liquidity policies or agreements in effect at the commission.
     (July 18, 2007, P.L.169, No.44, eff. imd.)

        2007 Amendment.  Act 44 added section 8915.3. Section 11.1 of
     Act 44 provided that Act 44 shall apply retroactively to July 1,
     2007.
        Cross References.  Section 8915.3 is referred to in sections
     8901, 9511.4 of this title; sections 1506, 8116 of Title 74
     (Transportation).