78R1772 JTS-D
By: King H.B. No. 189
A BILL TO BE ENTITLED
AN ACT
relating to a royalty interest as consideration for property
acquired for the Trans-Texas Corridor.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 201, Transportation Code, is amended by
adding Subchapter N to read as follows:
SUBCHAPTER N. TRANS-TEXAS CORRIDOR
Sec. 201.961. DEFINITION. In this subchapter, "Trans-Texas
Corridor" means the multiuse, statewide transportation corridor
described by the department's implementation plan adopted by the
commission on June 27, 2002.
Sec. 201.962. ROYALTY INTEREST AS CONSIDERATION. The
department may offer royalty payments as consideration for property
acquired by the department for the Trans-Texas Corridor.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2003.