A BILL TO BE ENTITLED
AN ACT directing the department of transportation to terminate the comprehensive agreement for the i‑77 hot lanes project in mecklenburg and iredell counties.
The General Assembly of North Carolina enacts:
SECTION 1.  Termination. – In a manner consistent with the terms of the Comprehensive Agreement, the Department of Transportation shall terminate the Comprehensive Agreement for the I‑77 HOT Lanes project in Mecklenburg and Iredell Counties. Nothing in this section shall be construed as relieving the State from paying damages or other monetary penalties determined to be owed from the early termination of the Comprehensive Agreement. For purposes of this act, "Comprehensive Agreement" means the Comprehensive Agreement dated as of June 26, 2014, including any amendments made to the Comprehensive Agreement as of the effective date of this act.
SECTION 2.  Payment of Damages. – If damages or other monetary penalties are determined to be owed by the State from the cancellation of the Comprehensive Agreement in accordance with Section 1 of this act, the Department of Transportation shall pay these amounts from unobligated funds available to the Department.
SECTION 3.  Effective Date. – This act becomes effective July 1, 2017.