TO: | Honorable Larry Phillips, Chair, House Committee on Transportation |
FROM: | Ursula Parks, Director, Legislative Budget Board |
IN RE: | HB2326 by Reynolds (Relating to creating a disadvantaged business assistance program to be operated by the Texas Department of Transportation.), As Introduced |
The bill would amend the Transportation Code to authorize the Texas Transportation Commission (TTC) by rule to establish a program to assist disadvantaged businesses identified in the under the Texas Department of Transportation's current disadvantaged business program required by Section 201.702, Transportation Code. The bill would allow the Texas Department of Transportation (TxDOT) to establish an account in the State Highway Fund (Fund 6) to use as a revolving fund to provide financing, including loans, to foster the development of such businesses. The revolving fund may be composed of financing application fees, loan repayments, appropriations from the Legislature, donations, interest earnings on money in the fund, and other sources specified by the bill. The bill would require the TTC to adopt rules governing the terms and conditions for financing and loans from the revolving fund.
Source Agencies: | 601 Department of Transportation, 304 Comptroller of Public Accounts
|
LBB Staff: | UP, AG, MW, TG
|