79R12464 MTB-F
By: Krusee H.B. No. 2650
Substitute the following for H.B. No. 2650:
By: Phillips C.S.H.B. No. 2650
A BILL TO BE ENTITLED
AN ACT
relating to local government participation in the financing of
turnpike projects.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter I, Chapter 361, Transportation Code,
is amended by adding Section 361.308 to read as follows:
Sec. 361.308. AGREEMENTS WITH LOCAL GOVERNMENTS. (a) In
this section, "local government" means a:
(1) county, municipality, special district, or other
political subdivision of this state;
(2) local government corporation created under
Subchapter D, Chapter 431; or
(3) combination of two or more entities described by
Subdivision (1) or (2).
(b) A local government may enter into an agreement with the
department 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) A local government may use any revenue available for
road purposes, including bond and tax proceeds, to provide
financing under Subsection (b).
(d) An agreement under this section between a local
government and a private entity must be approved by the department.
(e) Revenue received by a local government under an
agreement under this section must be used for transportation
purposes.
SECTION 2. Subchapter G, Chapter 370, Transportation Code,
is amended by adding Section 370.317 to read as follows:
Sec. 370.317. AGREEMENTS WITH LOCAL GOVERNMENTS. (a) In
this section, "local government" means a:
(1) county, municipality, special district, or other
political subdivision of this state;
(2) local government corporation created under
Subchapter D, Chapter 431; or
(3) combination of two or more entities described by
Subdivision (1) or (2).
(b) A local government may 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) A local government may use any revenue available for
road purposes, including bond and tax proceeds, to provide
financing under Subsection (b).
(d) An agreement under this section between a local
government and a private entity must be approved by the department.
(e) Revenue received by a local government under an
agreement under this section must be used for transportation
purposes.
SECTION 3. This Act takes effect September 1, 2005.