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H.B. No. 2134
AN ACT
relating to the administration of the state infrastructure bank.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 222.072(b), Transportation Code, is
amended to read as follows:
(b) Federal funds received by the state under the federal
act, matching state funds in an amount required by that act,
proceeds from bonds issued under Section 222.075, [money saved as a
result of contracting with a private entity for maintenance and
repair services for department vehicles,] secondary funds, other
state funds deposited into the bank by order of the commission, and
other money received by the state that is eligible for deposit in
the bank may be deposited into the bank and used only for the
purposes described in this subchapter.
SECTION 2. Section 222.073, Transportation Code, is amended
to read as follows:
Sec. 222.073. PURPOSES OF INFRASTRUCTURE BANK.
Notwithstanding Section 222.001, the [The] commission shall use
money deposited in the bank to:
(1) encourage public and private investment in
transportation facilities both within and outside of the state
highway system, including facilities that contribute to the
multimodal and intermodal transportation capabilities of the
state; and
(2) develop financing techniques designed to:
(A) expand the availability of funding for
transportation projects and to reduce direct state costs;
(B) maximize private and local participation in
financing projects; and
(C) improve the efficiency of the state
transportation system.
SECTION 3. Section 222.074, Transportation Code, is amended
by adding Subsection (c) to read as follows:
(c) Financial assistance to a public or private entity under
Subsection (a) shall be limited, as applicable, to a qualified
project that is consistent with the transportation plan developed
by the metropolitan planning organization.
SECTION 4. Section 222.076, Transportation Code, is amended
to read as follows:
Sec. 222.076. SEPARATE SUBACCOUNTS. (a) The bank shall
consist of at least two separate subaccounts, a highway subaccount
and a transit subaccount.
(b) In addition to the subaccounts under Subsection (a), the
commission may create one or more subaccounts that are capitalized
with state funds only. Subaccounts capitalized with state funds
only are not subject to the federal act.
SECTION 5. Sections 222.077(a) and (c), Transportation
Code, are amended to read as follows:
(a) Any funds disbursed through the state infrastructure
bank must be repaid on terms determined by the commission. The terms
must [that] comply with the federal act except for terms applicable
to funds deposited in a subaccount described by Section 222.076(b).
(c) The commission shall administer the bank in compliance
with applicable requirements of the federal act and any applicable
federal regulation or guideline.
SECTION 6. 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, 2005.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 2134 was passed by the House on April
20, 2005, by the following vote: Yeas 142, Nays 0, 1 present, not
voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 2134 was passed by the Senate on May
25, 2005, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor