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A BILL TO BE ENTITLED
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AN ACT
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relating to certain local government corporations created for the |
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development, construction, operation, management, or financing of |
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transportation projects. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter D, Chapter 431, Transportation Code, |
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is amended by adding Section 431.1015 to read as follows: |
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Sec. 431.1015. CORPORATIONS OF CERTAIN COUNTIES FOR TOLL |
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PROJECTS. (a) Notwithstanding Chapter 284 or any other law, a |
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county with a population of more than four million may not create a |
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local government corporation under this chapter to develop, |
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construct, operate, manage, or finance a toll project or system |
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located in the county. |
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(b) An existing local government corporation created by a |
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county described by Subsection (a) for the purposes described by |
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that subsection: |
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(1) may not: |
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(A) undertake any new bonds, notes, or other |
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obligations or extend the terms of any existing bonds, notes, or |
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other obligations; or |
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(B) enter into any new contracts or extend the |
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terms of any existing contracts; and |
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(2) must be dissolved when all bonds, notes, and other |
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obligations and contracts of the corporation have been satisfied. |
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(c) This subsection and Subsection (b) expire on the date |
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that the local government corporation described by Subsection (b) |
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is dissolved. |
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(d) Notwithstanding any other provision of this chapter, |
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income earned and revenues received by or from a local government |
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corporation created to develop, construct, operate, manage, or |
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finance a toll project or system under Chapter 284 may be used only |
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to pay the costs of a turnpike project, as defined by Section |
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370.003, or a road, street, or highway project as provided for under |
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Section 284.0031. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2021. |