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Daily Legislative Brief from January 28, 2016

Legal & Judicial

HB 267- Relating to Public Records/State –Funded Infrastructure Bank
On Thursday, January 28th, HB 267, relating to Public Records/State-Funded Infrastructure Bank, by Rep. Mike LaRosa (R-Saint Cloud) was heard by the House Economic Affairs Committee and passed with 14 yeas and 1 nay. AIF stood in support of this bill.

Currently, the state-funded infrastructure bank (SIB) is housed within Department of Transportation (department). The SIB provides loans and credit enhancements to public and private entities for constructing and improving transportation facilities. This bill creates a public record exemption for the financial statements or other financial information that is required for the application to the SIB.

However, the public records exemption does not apply to the financial records of an applicant who is in default of an SIB loan.

This exemption is subject to the Open Government Sunset Review Act and will be repealed on October 2, 2021 unless this bill is reenacted by the Legislature.

HB 267 will now go to the House floor for consideration.

AIF supports protecting the financial information of private companies.