SRTA also administers the Georgia Transportation Infrastructure Bank (GTIB), a revolving infrastructure investment fund, much like a bank, that provides loans with attractive terms to state, regional and local government entities to fund much needed local transportation projects. GTIB grants are also awarded for selected transportation improvement projects on a competitive basis throughout the state of Georgia.
The State Road and Tollway Authority (SRTA) is a state-level, independent Authority created by the Georgia General Assembly to operate tolled transportation facilities within Georgia and act as the transportation financing arm for the State. SRTA manages the collection of tolls on Georgia’s Express Lanes System through the use of Peach Pass, the state’s all-electronic tolling technology.
In 2017, SRTA and Georgia Regional Transportation Authority (GRTA) became administratively attached and SRTA began providing the services of both state authorities. As such, all functions for both authorities are provided by the staff and leadership of SRTA.
SRTA has the authority to finance any type of transportation improvement using traditional methods of financing such as bonds, loans, notes and equity partnerships. SRTA has issued Grant Anticipation Revenue Vehicle (GARVEE) bonds, underwritten by the state’s future federal transportation revenues, for non-toll projects on behalf of the Georgia Department of Transportation. As an issuer of tax-exempt bonds, SRTA is responsible for ensuring that all applicable U.S. Securities and Exchange Commission rules and federal law requirements are met. SRTA and the Georgia Department of Transportation have consistently demonstrated their ability to meet these requirements.