Sec. X-1. 30-A MRSA §6006-G, sub-§4, ķA, as enacted by PL 2007, c. 470, Pt. D, §1, is amended to read:
Sec. X-2. Authorization to issue TransCap Trust Fund revenue bonds for highways. Notwithstanding any other provision of law, the Maine Municipal Bond Bank, at the request of the Department of Transportation, is authorized to issue additional TransCap Trust Fund revenue bonds as provided in the Maine Revised Statutes, Title 30-A, section 6006-G in amounts not to exceed $30,000,000 for the purpose of funding capital highway projects with an estimated useful life of 10 years or greater.
Sec. X-3. Access to TransCap Trust Fund. The Department of Transportation is authorized to access and use all funds in the TransCap Trust Fund at the Maine Municipal Bond Bank available in the 2010-2011 biennium that are not allocated or otherwise committed as part of debt service or bond issuer requirements or otherwise committed for capital projects having an estimated useful life of at least 10 years.
Sec. X-4. Highway and Bridge Light Capital funding. The Joint Standing Committee on Transportation shall negotiate in good faith and develop a solution to fund the Highway and Bridge Light Capital program in the Department of Transportation so as to allow maintenance paving at a rate of 600 miles per year without further impact to the TransCap Trust Fund. The Joint Standing Committee on Transportation shall submit a bill to the Second Regular Session of the 124th Legislature to implement the solution.