The state of Indiana has agreed to let the Indiana Toll Road’s private operator increase tolls on all vehicles twice a year, in exchange for payments totaling $700 million, according to agency documents.
The Indiana Finance Authority on Tuesday approved a resolution authorizing changes to the 75-year lease with ITR Concession Company.
The toll rate for a full-length 157-mile trip is currently $16.21 for a Class 2 passenger vehicle, and $87.49 for a Class 5 truck.
The amendment allows the operator to hike tolls twice a year, beginning this year and rising every Dec. 31 and June 30 thereafter.
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