Committee advances expanded uses and limits for industrial access road fund in House Bill 4007

The Senate Finance Committee on voice vote approved a committee amendment and reported Committee Substitute for House Bill 4,007, which changes transfers and eligible uses for the Industrial Access Road Fund.

Counsel told the committee the bill would permit the Commissioner of Highways to transfer an additional $3,000,000 into the fund in any fiscal year where it is a sound investment and expand uses to include approved industrial development sites of at least 50 contiguous acres that lack adequate public utility service. The bill also raises the unmatched per‑county or per‑municipality cap from $400,000 to $800,000 and doubles the cap on matched monies from $150,000 to $300,000.

Senator Randolph asked for a ruling under committee rules because his employer has current grants under the industrial access road program; the Chair ruled the senator belongs to a class greater than five and is required to vote. The committee adopted a technical amendment from the Committee on Economic Development and reported the substitute to the full Senate.

The bill’s changes are intended to broaden the program’s flexibility for attracting manufacturing and economic development projects while placing per‑locality limits on unmatched funding.