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House Bill 2134 |
House Author: Phillips |
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Effective: 6-18-05 |
Senate Sponsor: Shapleigh |
House Bill 2134 amends Transportation Code provisions relating to administration of the state infrastructure bank. The bill adds certain state funds to the funds that are authorized to be deposited into the bank and removes the authorization for money saved as a result of certain contracting with a private entity. It clarifies that, notwithstanding the law governing use of the state highway fund, money deposited in the bank may be used to encourage investment in transportation facilities both within and outside of the state highway system. The bill limits financial assistance from the bank to a qualified project that is consistent with the transportation plan developed by the applicable metropolitan planning organization. In addition, House Bill 2134 authorizes the Texas Transportation Commission to create one or more additional subaccounts in the bank that are capitalized with state funds only and are not subject to federal law.