TO: | Honorable Frank Madla, Chair, Senate Committee on Intergovernmental Relations |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | SB1434 by Madla (Relating to use of money of an advanced transportation district to pay or secure bond-related costs of a county, municipality, or local government corporation.), As Introduced |
The bill would authorize an Advanced Transportation District to enter into a contractual arrangement with a county, municipality, or local government corporation and create a lien on and pledge of the part of the district's sales and use tax that is placed into a separate account for the benefit of obligations issued or incurred to finance any cost relating to mobility enhancement purposes.
According to the Texas Department of Transportation, the provisions of the bill would currently apply only to the Advanced Transportation District in San Antonio.
Source Agencies: | 601 Department of Transportation
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LBB Staff: | JOB, DLBa
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