By Allen H.B. No. 2311
Line and page numbers may not match official copy.
Bill not drafted by TLC or Senate E&E.
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to funds maintained by and for the Texas Turnpike
1-3 Authority Division of the Texas Department of Transportation.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 361.182, Transportation Code, is amended
1-6 by amending Subsection (a) and adding Subsections (g) and (h) to
1-7 read as follows:
1-8 (a) The authority shall maintain the Texas Turnpike
1-9 Authority feasibility study fund. The fund is a revolving fund
1-10 held in trust by a banking institution chosen by the authority or,
1-11 at the discretion of the authority, in the state treasury with the
1-12 comptroller in trust. The fund [and] shall be kept separate from
1-13 the money for any project.
1-14 (g) Interest and income earned on money deposited in the
1-15 feasibility study fund shall be deposited to the credit of the
1-16 feasibility study fund.
1-17 (h) The feasibility study fund is exempt from the
1-18 application of Section 404.071, Government Code.
1-19 SECTION 2. Section 361.184, Transportation Code, is amended
1-20 by amending Subsection (a) and adding Subsections (e) and (f) to
1-21 read as follows:
2-1 (a) The authority may maintain the Texas Turnpike Authority
2-2 project revolving fund. The fund is a revolving fund held in trust
2-3 by a banking institution chosen by the authority or, at the
2-4 discretion of the authority, in the state treasury with the
2-5 comptroller in trust. The fund [and] shall be kept separate from
2-6 other funds of the authority.
2-7 (e) Interest and income earned on money deposited in the
2-8 project revolving fund shall be deposited to the credit of the
2-9 project revolving fund.
2-10 (f) The project revolving fund is exempt from the
2-11 application of Section 404.071, Government Code.
2-12 SECTION 3. Section 361.185(a), Transportation Code, is
2-13 amended to read as follows:
2-14 (a) All money received under this chapter, whether as
2-15 proceeds from the sale of bonds or as revenue, is a trust fund to
2-16 be held and applied as provided by this chapter. Notwithstanding
2-17 the provisions of any other law, including Section 9, Chapter 1123,
2-18 Acts of the 75th Legislature, Regular Session, 1997, funds held
2-19 under this chapter shall be held in trust by a banking institution
2-20 chosen by the authority or, at the discretion of the authority, in
2-21 the state treasury with the comptroller in trust.
2-22 SECTION 4. Section 8.06, Chapter 1171, Acts of the 75th
2-23 Legislature, Regular Session, 1997, is repealed.
2-24 SECTION 5. The importance of this legislation and the
2-25 crowded condition of the calendars in both houses create an
3-1 emergency and an imperative public necessity that the
3-2 constitutional rule requiring bills to be read on three several
3-3 days in each house be suspended, and this rule is hereby suspended,
3-4 and that this Act take effect and be in force from and after its
3-5 passage, and it is so enacted.