| TO: | Honorable Norma Chavez, Chair, House Committee on Border and International Affairs |
| FROM: | John Keel, Director, Legislative Budget Board |
| IN RE: | SB963 by Shapleigh (Relating to border trade and transportation; granting the power to issue bonds and the power of eminent domain. ), Committee Report 2nd House, Substituted |
The bill would amend the Transportation Code to require the Department of Transportation to implement an integrated trade transportation corridor plan for cross-border traffic under guidelines and requirements established in the bill. The bill would also amend the Transportation Code to allow the Texas Transportation Commission (TTC) to authorize the creation of a high-speed rail authority in each border region for the purposes of financing, acquiring property for, constructing, maintaining, and operating a high-speed rail system in each border region. The bill would establish the authorities, powers, duties, requirements, restrictions, and governing body for a high-speed authority. The bill would exempt the property, material purchases, revenues, and income of an authority and the interest on a bond or note issued by an authority from all taxes imposed by this state or a political subdivision of this state.
Based on the analysis of the Department of Transportation and the Comptroller of Public Accounts, it is assumed that duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
The bill would take effect September 1, 2003, and would require that the TTC create the border region high-speed rail authorities no later than September 1, 2004.
The fiscal impact to units of local government would vary depending on the size of the local body and the services that would be provided under the provisions of the bill. It is assumed that costs to local governmental entities for participating in the creation, administration, operation, and financing of high-speed rail systems in this state would depend on the size and type of the projects that are constructed. The bill would also grant the authority the ability to establish fees, maintain rates, obtain grants, and issue bonds at a level to pay all expenses necessary for operations, maintenance, and repayment of any bond debt.
| Source Agencies: | 601 Department of Transportation
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| LBB Staff: | JK, EB, RT, MW
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