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A BILL TO BE ENTITLED
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AN ACT
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relating to NAFTA priority projects of the Texas Department of |
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Transportation; providing for the issuance of revenue bonds. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 201, Transportation Code, is amended by |
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adding Subchapter P to read as follows: |
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SUBCHAPTER P. NAFTA PRIORITY PROJECTS; BORDER |
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INFRASTRUCTURE FUND |
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Sec. 201.981. DEFINITIONS. In this subchapter: |
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(1) "Commercial motor vehicle" has the meaning |
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assigned by 49 C.F.R. Section 390.5. |
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(2) "Fund" means the border infrastructure fund. |
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(3) "NAFTA priority project" means a transportation |
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project undertaken by the department that is designed to: |
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(A) facilitate the flow of commercial motor |
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vehicle traffic in international commerce and provide direct access |
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to one or more international ports of entry; |
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(B) carry a heavier volume of commercial motor |
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vehicles carrying freight in international commerce than domestic |
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commerce and be used primarily in support of just-in-time |
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manufacturing operations; and |
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(C) relieve the burden on local streets and |
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highways caused by commercial motor vehicles engaged in |
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international commerce. |
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Sec. 201.982. BORDER INFRASTRUCTURE FUND. (a) The border |
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infrastructure fund is a dedicated account in the state treasury. |
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(b) The proceeds of tolls imposed under this subchapter |
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shall be deposited in the fund. |
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(c) Money in the fund may be used only to pay principal of, |
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interest on, and expenses related to bonds issued under this |
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subchapter. |
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(d) The commission shall administer the fund. |
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Sec. 201.983. REVENUE BONDS. (a) The commission may issue |
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revenue bonds and use the proceeds only to fund NAFTA priority |
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projects. |
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(b) The bonds do not constitute a debt of the state or a |
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pledge of the faith and credit of the state, but may be repaid only |
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from the proceeds of tolls imposed under this subchapter. |
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(c) All laws generally applicable to revenue bonds issued by |
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the state apply to bonds issued under this subchapter. |
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Sec. 201.984. IMPOSITION OF TOLL. (a) The commission shall |
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impose a toll on each commercial motor vehicle leaving the state at |
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the international border. |
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(b) The department shall use electronic toll collection |
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technology to collect a toll under this subchapter and may use any |
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other method to collect or enforce a toll under this subchapter that |
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the department is authorized to use in connection with a state |
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highway toll project under Chapter 228. |
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Sec. 201.985. RULES. The commission shall adopt rules to |
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implement this subchapter. |
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SECTION 2. 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. |