AUTHOR'S / SPONSOR'S STATEMENT OF INTENT

 

Interested parties contend that there are multiple toll roads around the state that could have their tolls removed if funding were in place to accelerate the payment schedule of debt service on bonds or make a complete lump-sum payment of debt service on bonds. H.B. 2612 seeks to have the Texas Department of Transportation prepare a report on this matter.

 

H.B. 2612 amends current law relating to a report to the legislature regarding the elimination of toll roads.

 

RULEMAKING AUTHORITY

 

This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.

 

SECTION BY SECTION ANALYSIS

 

SECTION 1. Requires the Texas Department of Transportation (TxDOT), not later than September 1, 2016, to submit to each standing committee of the senate and house of representatives that has primary jurisdiction over transportation matters a report that:

 

(1) lists the amount of debt service on bonds issued for each toll project in this state;

 

(2) identifies, based on criteria provided by the Texas Transportation Commission, bonds that would be appropriate for accelerated or complete lump-sum payment of debt service; and

 

(3) proposes a plan to eliminate all toll roads in this state, except for tolls on roads constructed, operated, or maintained only with proceeds from the issuance of bonds by a toll project entity other than TxDOT, by methods including:

 

(A) the accelerated or complete lump-sum payment of debt service on bonds identified under Subdivision (1); or

 

(B) requiring, as a condition on receipt of state financial assistance, a commitment by a toll project entity to eliminate toll collection on a project for which the financial assistance is provided.

 

SECTION 2. Effective date: September 1, 2015.