Greater Miami Toll Rebate Program.

There is created by the agency the Greater Miami Toll Rebate Program.

(1) The agency shall develop and implement a monthly rebate program for the month beginning January 1, 2020, subject to:

(a) Compliance with any covenants made with the holders of the agency’s bonds which are in the trust indentures or resolutions adopted in connection with the issuance of the agency’s bonds;

(b) Consideration of the financial feasibility of such a program as reported by the Auditor General as required by this act; and

(c) Consideration of the impact of such a program to the financial feasibility of prioritized projects that have been allocated funds for a project development and an environmental study but are not contained in the 5-year work program on July 1, 2019.

(2) Monthly rebates shall be credited to the account of each SunPass holder who incurs $12.50 or more in tolls on the expressway system each month and whose SunPass is registered to a motor vehicle registered to an address in the county.

(3) In developing its rebate program, the agency shall have a goal of rebating 25 percent of tolls paid by eligible SunPass holders. Following initiation of the program, the agency, once every 5 years, shall review the amount of the toll rebate and may adjust the amount of the toll rebate.

(4) The agency may not impose additional requirements for receipt of the toll rebate.