Honorable Mike Krusee, Chair, House Committee on Transportation
John S. O'Brien, Director, Legislative Budget Board
HB2632 by Bolton (Relating to the use of county and municipality bond proceeds for toll projects.), As Introduced
The bill would add Chapter 371 to Subtitle G, Title 6 of the Transportation Code to prohibit a toll project entity from financing any part of the construction of a toll project using county or municipal bond proceeds unless that usage is specifically listed in the proposition for the authorization of the bonds.
The bill would apply only to county or municipal bond proceeds that are authorized at an election held on or after the effective date of the bill, which would be September 1, 2007.
601 Department of Transportation
JOB, KJG, DB