A bill to add toll lanes and fund future highway and road improvements in Tennessee passed a key Senate committee Tuesday.
The Tennessee Transportation Modernization Act passed the Finance, Ways and Means Committee with a 10-1 vote and will head to the full Senate after it goes through the Senate Calendar Committee. The House Finance, Ways and Means Committee is set to hear the companion House bill Wednesday.
Senate Bill 273 will open the door for toll lanes operated by private companies to build new lanes on the state’s highways and install tolling on those lanes. Sen. Becky Massey, R-Knoxville, presented the bill and said terms on the toll lanes will be negotiated, giving an example of an 80% to 20% split of road construction costs with a private company paying the larger portion and then getting the first dollars that come in from tolls.
Read the full story