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A BILL TO BE ENTITLED
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AN ACT
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relating to the length of certain agreements with private entities |
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related to transportation projects. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 223.208(h), Transportation Code, is |
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amended to read as follows: |
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(h) Except as provided by this section, a comprehensive |
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development agreement with a private participant that includes the |
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collection by the private participant of tolls for the use of a toll |
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project may be for a term not longer than 30 [50] years. [The
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comprehensive development agreement may be for a term not longer
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than 70 years if the agreement:
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[(1) contains an explicit mechanism for setting the
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price for the purchase by the department of the interest of the
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private participant in the comprehensive development agreement and
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related property, including any interest in a highway or other
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facility designed, developed, financed, constructed, operated, or
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maintained under the agreement; and
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[(2) outlines the benefit the state will derive from
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having a term longer than 50 years.] |
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SECTION 2. Section 227.023(f), Transportation Code, is |
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amended to read as follows: |
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(f) A contract with a private entity that includes the |
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collection by the private entity of a fee for the use of a facility |
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may not be for a term longer than 30 [50] years. |
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SECTION 3. Section 370.302(i), Transportation Code, is |
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amended to read as follows: |
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(i) An agreement with a private entity that includes the |
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collection by the private entity of tolls for the use of a |
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transportation project may not be for a term longer than 30 [50] |
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years. |
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SECTION 4. Title 6, Transportation Code, as amended by this |
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Act, applies only to a contract entered into on or after the |
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effective date of this Act. A contract entered into before the |
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effective date of this Act is governed by the law in effect when the |
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contract was entered into, and the former law is continued in effect |
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for that purpose. |
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SECTION 5. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2007. |