TO: | Honorable Mike Krusee, Chair, House Committee on Transportation |
FROM: | John Keel, Director, Legislative Budget Board |
IN RE: | HJR80 by Krusee (Proposing a constitutional amendment authorizing a county that is part of a regional mobility authority to issue obligations and enter into agreements for the acquisition, construction, maintenance, or operation of a transportation project or system of the authority.), As Introduced |
The cost to the state for publication of the resolution is $85,275.
The resolution proposes a constitutional amendment that would allow a county that is part of a regional mobility authority (RMA), regardless of whether the transportation project or system is located inside or outside the boundaries of the county or the RMA, upon approval by a majority of the voters of the county voting on the issue, to issue bonds, notes, or other obligations for the acquisition, construction, maintenance, or operation of a transportation project or system of the RMA. The county would also be authorized to enter into an agreement and make payments under an agreement to acquire, construct, maintain, or operate an RMA transportation project or system. The county would be allowed to levy and collect ad valorem taxes and enter into credit agreements to make payments associated with bonds, notes, or other obligations.
The amendment would be included on the ballot for consideration by the voters of the state in the November 4, 2003 general election.
If the resolution were to pass and if a county were to choose to hold an election regarding funding of RMA transportation projects and systems, the initial costs incurred would be for holding an election to obtain voter approval. Upon voter approval, because there are provisions for paying for the projects such as through ad valorem taxes, the fiscal impact would be insignificant.
Source Agencies: | 601 Department of Transportation
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LBB Staff: | JK, RR, JB, DLBa
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