79R5980 JD-D

By:  Chavez                                                       H.B. No. 2419



A BILL TO BE ENTITLED

AN ACT

relating to the use of the proceeds of bonds and other public 
securities that are secured by the state highway fund.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 222.003(c), Transportation Code, is 
amended to read as follows:
	(c)  Proceeds from the sale of bonds and other public 
securities issued under this section shall be used to fund state 
highway improvement projects except that 20 percent of the proceeds 
shall be deposited in a separate account to be designated as the 
high impact NAFTA corridor account.  Money in the account may be 
used only to fund state highway projects that:
		(1)  are located in an area of this state having a rapid 
growth in population; and
		(2)  are designed to:                                                  
			(A)  facilitate the flow of commercial vehicular 
traffic in international commerce;
			(B)  provide direct access to one or more 
international ports of entry;
			(C)  have a higher volume of commercial vehicles 
carrying freight in international commerce than in domestic 
commerce;
			(D)  be used mainly by commercial vehicular 
traffic in support of just-in-time manufacturing operations; and
			(E)  relieve the burden on local streets and roads 
caused by commercial vehicles engaged in international traffic or 
commerce.
	SECTION 2.  The change in law made by this Act applies only 
to the proceeds from bonds or other public securities authorized by 
Section 222.003, Transportation Code, as amended by this Act, sold 
on or after the effective date of this Act.
	SECTION 3.  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.