2005 Vermont Code - § 12b. — Joint transportation oversight committee

§ 12b. Joint transportation oversight committee

(a) There is created a joint transportation oversight committee composed of the chairs of the house and senate committees on appropriations, the house and senate committees on transportation, the house committee on ways and means, and the senate committee on finance.

(b) The committee shall meet during adjournment for official duties. Members shall be entitled to compensation and reimbursement pursuant to 2 V.S.A. § 406. The committee shall have the assistance of the staff of the legislative council and the joint fiscal office.

(c) The committee shall provide legislative overview of the transportation fund revenues collection and the operation and administration of the agency of transportation construction, paving and rehabilitation programs. The secretary of transportation shall report to the oversight committee upon request.

(d)(1) In coordination with the regular meetings of the joint fiscal committee, the joint transportation oversight committee shall meet in mid-July, mid-September, and mid-November. At these meetings, the secretary shall report on the status of the state's transportation finances and transportation programs, including a report on contract bid awards versus project estimates and a detailed report on all known or projected cost overruns, project savings and funding availability from delayed projects; and the agency's actions taken or planned to cover the cost overruns and to reallocate the project savings and delayed project funds with respect to:

(A) all paving projects other than statewide maintenance programs; and

(B) all projects in the roadway, state bridge, interstate bridge, or town bridge programs with authorized spending in the fiscal year of $500,000.00 or more with a cost overrun equal to 20 percent or more of the authorized spending or generating project savings or delayed project available funding equal to 20 percent or more of the authorized spending.

(2) In addition, at the July meeting of the joint transportation oversight committee, the secretary shall report to the committee on the agency's plans to adjust spending to any changes in the consensus forecast for transportation fund revenues. (Added 1993, No. 25, § 78, eff. May 18, 1993; amended 1993, No. 211 (Adj. Sess.), § 11, eff. June 17, 1994; 2005, No. 80, §§ 44, 45.)