79R5835 MTB-F
By: Shapiro S.B. No. 708
A BILL TO BE ENTITLED
AN ACT
relating to the funding of highway projects in Texas Department of
Transportation districts in which a turnpike project is located.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter E, Chapter 361, Transportation Code,
is amended by adding Section 361.192 to read as follows:
Sec. 361.192. FUNDING FOR DEPARTMENT DISTRICT. The
commission may not decrease the annual formula allocation for a
department district or any other distribution of money for the
maintenance, operation, or construction of a highway project in a
department district because revenue bonds are issued for a turnpike
project located within the department district.
SECTION 2. Section 361.189, Transportation Code, is amended
to read as follows:
Sec. 361.189. USE OF SURPLUS REVENUE. (a) The commission
shall [by order may] authorize the use of surplus revenue of a
turnpike project to pay the costs of another turnpike or highway
project within a department district in which any part of the
turnpike project is located [the region].
(b) The commission may not decrease the annual formula
allocation for a department district or any other distribution of
money for the maintenance, operation, or construction of a highway
project in a department district because of a payment under
Subsection (a).
(c) The commission [in the order prescribe terms for the use
of the revenue, including the pledge of the revenue, but] may not
take an action under this section that violates, impairs, or is
inconsistent with a bond order, trust agreement, or indenture
governing the use of the surplus revenue.
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.