BILL ANALYSIS
Senate Research Center H.B. 386
80R1657 ACP-D By: Callegari et al. (Hegar)
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
During the 1970s, Texas explored the possibility of developing a deepwater port for the import of oil from deep-draft supertankers. After a private effort to develop a deepwater port failed in 1977, the legislature authorized the creation of the Texas Deepwater Port Authority (authority). The authority was authorized to issue bonds for the development of a deepwater port, and was granted powers, including the power of eminent domain, to develop necessary facilities.
Rising interest rates coupled with an international oil crisis diminished oil companies' interest in a deepwater port in the 1970s. In the absence of necessary interest and financial backing for the bonds needed, the authority ceased operation in 1980. The authority has not existed for 27 years, although its authorization is continued by current statute.
H.B. 386 repeals the chapter of the Water Code creating the authority, which no longer exists.
RULEMAKING AUTHORITY
SECTION BY SECTION ANALYSIS
SECTION 1. Repealer: Chapter 19 (Texas Deepwater Port Authority), Water Code.
SECTION 2. Effective date: upon passage or September 1, 2007.