BILL ANALYSIS
Senate Research Center H.B. 2650
79R12464 MTB-F By: Krusee (Brimer)
Transportation & Homeland Security
AUTHOR'S/SPONSOR'S STATEMENT OF INTENT
H.B. 2650 allows a local government to enter into an agreement with Texas Department of Transportation, a regional mobility authority, or a private entity to assist in the financing of the construction, maintenance, and operations of a turnpike project located in the government’s jurisdiction. In return for that financial assistance, the local government may receive a percentage of the turnpike project revenues.
A local government may use any revenue available for road purposes to provide financing of the project.
RULEMAKING AUTHORITY
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Subchapter I, Chapter 361, Transportation Code, by adding Section 361.308, as follows:
Sec. 361.308. AGREEMENTS WITH LOCAL GOVERNMENTS. (a) Defines "local government."
(b) Authorizes a local government to enter into an agreement with the Texas Department of Transportation (TxDOT) or a private entity under which the local government assists in the financing of the construction, maintenance, and operation of a turnpike project located in the government's jurisdiction in return for a percentage of the revenue from the project.
(c) Authorizes a local government to use any revenue available for road purposes, including bond and tax proceeds, to provide financing under Subsection (b).
(d) Requires an agreement under this section between a local government and a private entity to be approved by TxDOT.
(e) Requires revenue received by a local government under an agreement under this section to be used for transportation.
SECTION 2. Amends Subchapter G, Chapter 370, Transportation Code, by adding Section 370.317, as follows:
Sec. 370.317. AGREEMENTS WITH LOCAL GOVERNMENTS. (a) Defines "local government."
(b) Authorizes a local government to enter into an agreement with an authority or a private entity under which the local government assists in the financing of the construction, maintenance, and operation of a turnpike project located in the government's jurisdiction in return for a percentage of the revenue from the project.
(c) Authorizes a local government to use any revenue available for road purposes, including bond and tax proceeds, to provide financing under subsection (b).
(d) Requires an agreement under this section between a local government and a private entity to be approved by TxDOT.
(e) Requires the revenue received by a local government under an agreement under this section to be used for transportation purposes.
SECTION 3. Effective date: September 1, 2005.