TO: | Honorable Mike Krusee, Chair, House Committee on Transportation |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB2114 by Merritt (Relating to the creation, administration, powers, duties, operations, and financing of a border region high-speed rail authority for the Texas-Louisiana and the Texas-Mexico border regions; granting the power to issue bonds; granting the power of eminent domain.), As Introduced |
The bill would amend the Transportation Code to require the Texas Transportation Commission (TTC) to authorize the creation of a high-speed rail authority in each border region for the purposes of financing, acquiring property for, constructing, maintaining, operating, and improving a high-speed rail system in each border region. The bill would establish the authorities, powers, duties, requirements, restrictions, and governing body for a high-speed authority.
The bill would exempt the property, material purchases, revenues, and income of an authority and the interest on a bond or note issued by an authority from all taxes imposed by this state or a political subdivision of this state.
Based on the analysis of the Department of Transportation, the Office of the Attorney General, and the Comptroller of Public Accounts, it is assumed that duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
The bill would take effect September 1, 2005.
Source Agencies: | 302 Office of the Attorney General, 304 Comptroller of Public Accounts, 601 Department of Transportation
|
LBB Staff: | JOB, SR, MW, TG, KJG
|