| TO: | Honorable Steve Ogden, Chair, Senate Committee on Infrastructure Development and Security |
| FROM: | John Keel, Director, Legislative Budget Board |
| IN RE: | HB157 by Krusee (Relating to the powers and duties of a regional mobility authority.), As Engrossed |
The bill would amend the Transportation Code to grant to a regional mobility authority (RMA) the same powers and duties that the Texas Transportation Commission and the Texas Department of Transportation have relating to the financing of a turnpike project.
The bill would take effect immediately if it receives two-thirds vote in each house; otherwise, it would take effect September 1, 2003.
Currently, only one RMA has been created.
Because provisions of the bill would allow an RMA to issue turnpike revenue bonds, impose a toll, or obtain from any other source of revenue necessary to pay all or part of the principal of and interest on the turnpike revenue bonds, no significant fiscal implication to units of local government is anticipated.
| Source Agencies: | 304 Comptroller of Public Accounts, 601 Department of Transportation
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| LBB Staff: | JK, RR, JB, DLBa
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