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A BILL TO BE ENTITLED
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AN ACT
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relating to the use of money in the state highway fund for toll |
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projects. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 162.503, Tax Code, is amended to read as |
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follows: |
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Sec. 162.503. ALLOCATION OF GASOLINE TAX. [(a)] On or |
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before the fifth workday after the end of each month, the |
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comptroller, after making all deductions for refund purposes and |
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for the amounts allocated under Sections 162.502 and 162.5025, |
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shall allocate the net remainder of the taxes collected under |
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Subchapter B as follows: |
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(1) one-fourth of the tax shall be deposited to the |
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credit of the available school fund; |
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(2) one-half of the tax shall be deposited to the |
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credit of the state highway fund for the construction and |
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maintenance of the state road system, other than toll roads, under |
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existing law; and |
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(3) from the remaining one-fourth of the tax the |
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comptroller shall: |
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(A) deposit to the credit of the county and road |
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district highway fund all the remaining tax receipts until a total |
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of $7,300,000 has been credited to the fund each fiscal year; and |
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(B) after the amount required to be deposited to |
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the county and road district highway fund has been deposited, |
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deposit to the credit of the state highway fund the remainder of the |
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one-fourth of the tax, the amount to be provided on the basis of |
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allocations made each month of the fiscal year, which sum shall be |
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used by the Texas Department of Transportation for the |
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construction, improvement, and maintenance of farm-to-market |
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roads. |
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SECTION 2. Section 201.002(c), Transportation Code, is |
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amended to read as follows: |
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(c) All money authorized to be appropriated in accordance |
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with this section for the operation of the department and the |
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purchase of equipment shall be appropriated from the state highway |
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fund. The commission shall use the amount remaining in the fund for |
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the furtherance of public road construction, other than toll roads, |
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and for establishing a system of state highways. |
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SECTION 3. Section 202.002(a), Transportation Code, is |
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amended to read as follows: |
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(a) The commission shall use automobile registration fees |
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in the state highway fund to maintain state highways, other than |
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toll roads, and may not divert funds from automobile registration |
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fees for another use. |
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SECTION 4. Section 222.001, Transportation Code, is amended |
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by adding Subsection (c) to read as follows: |
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(c) Notwithstanding Section 222.103, the legislature may |
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not appropriate money deposited to the credit of the state highway |
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fund to construct, maintain, or acquire rights-of-way for a toll |
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project or system. |
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SECTION 5. Section 222.002, Transportation Code, is amended |
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to read as follows: |
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Sec. 222.002. USE OF STATE HIGHWAY FUND FOR DEPARTMENT |
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FUNCTIONS. Money in the state highway fund that is not required to |
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be spent for public roadways by the Texas Constitution or federal |
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law may be used for any function performed by the department other |
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than a function related to a toll project or system. |
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SECTION 6. Section 222.004(g), Transportation Code, is |
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amended to read as follows: |
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(g) Bonds may be issued for one or more of the following |
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purposes: |
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(1) to pay all or part of the costs of highway |
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improvement projects, other than an improvement project for a toll |
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road; and |
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(2) to pay: |
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(A) the costs of administering projects |
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authorized under this section; |
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(B) the cost or expense of the issuance of the |
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bonds; or |
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(C) all or part of a payment owed or to be owed |
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under a credit agreement. |
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SECTION 7. Section 228.006(a), Transportation Code, is |
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amended to read as follows: |
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(a) The commission shall authorize the use of surplus |
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revenue of a toll project or system to pay the costs of a |
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transportation project or [,] highway project, other than a toll |
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project, or an air quality project within a region in which any part |
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of the toll project is located. |
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SECTION 8. Section 228.053(f), Transportation Code, is |
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amended to read as follows: |
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(f) The revenue and disbursements for each toll project or |
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system shall be kept separately. The revenue from one project may |
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not be used to pay the cost of another project except as authorized |
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by Section [Sections] 228.0055 [and 228.006]. |
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SECTION 9. Section 228.104(a), Transportation Code, is |
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amended to read as follows: |
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(a) The principal of, interest on, and any redemption |
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premium on bonds issued by the commission under this subchapter are |
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payable solely from: |
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(1) the revenue of the toll project or system for which |
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the bonds are issued, including tolls pledged to pay the bonds; |
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(2) the proceeds of bonds issued for the project or |
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system; |
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(3) the amounts deposited in a debt service reserve |
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fund as required by the trust agreement securing bonds issued for |
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the project or system; |
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(4) amounts received under a credit agreement relating |
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to the project or system for which the bonds are issued; and |
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(5) [surplus revenue of another project or system as
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authorized by Section 228.006; and
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[(6)] amounts received by the department: |
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(A) as pass-through tolls under Section 222.104; |
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(B) under an agreement with a local governmental |
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entity entered into under Section 228.254; |
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(C) under other agreements with a local |
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governmental entity relating to the project or system for which the |
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bonds are issued; and |
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(D) under a comprehensive development agreement |
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entered into under Section 223.201. |
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SECTION 10. Section 228.105, Transportation Code, is |
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amended to read as follows: |
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Sec. 228.105. SOURCES OF PAYMENT OF AND SECURITY FOR TOLL |
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REVENUE BONDS. Notwithstanding any other provisions of this |
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subchapter, toll revenue bonds issued by the commission may: |
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(1) be payable from and secured by: |
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(A) payments made under an agreement with a local |
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governmental entity as provided by Section 228.254; |
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(B) the proceeds of bonds issued for the toll |
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project or system; or |
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(C) amounts deposited in a debt service reserve |
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fund as required by the trust agreement securing bonds issued for |
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the project or system; [or
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[(D)
surplus revenue of another toll project or
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system as authorized by Section 228.006;] and |
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(2) state on their faces any pledge of revenue or taxes |
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and any security for the bonds under the agreement. |
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SECTION 11. Section 366.174(b), Transportation Code, is |
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amended to read as follows: |
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(b) An authority may transfer into its revolving fund money |
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from any permissible source, including: |
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(1) money from a turnpike project if the transfer does |
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not diminish the money available for the project or the system, if |
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any, of which it is a part to less than an amount required to be |
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retained by the bond proceedings pertaining to the project or |
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system; |
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(2) money received by the authority from any source |
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and not otherwise committed, including money from the transfer of a |
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turnpike project or system or sale of authority assets; and |
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(3) [money received from the state highway fund; and
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[(4)] contributions, loans, grants, or assistance |
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from the United States, another state, a political subdivision of |
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this state, a foreign governmental entity, including the United |
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Mexican States or a state of the United Mexican States, a local |
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governmental entity, any private enterprise, or any person. |
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SECTION 12. Section 370.033(m), Transportation Code, is |
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amended to read as follows: |
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(m) If an authority receives money from the general revenue |
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fund or [,] the Texas Mobility Fund, [or the state highway fund] it |
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may use the money only to acquire, design, finance, construct, |
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operate, or maintain a turnpike project under Section |
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370.003(14)(A) or (D) or a transit system under Section 370.351. If |
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an authority receives money from the state highway fund, it may use |
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the money only to acquire, design, finance, construct, operate, or |
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maintain a transportation project under Section 370.003(14)(D). |
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SECTION 13. Section 373.102(d), Transportation Code, is |
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amended to read as follows: |
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(d) Money received by the department under this section |
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shall be deposited in the state highway fund and, except for |
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reimbursement for costs owed to a third party, used to fund |
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additional projects, other than toll projects, in the department |
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district in which the toll project is located. |
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SECTION 14. Sections 228.204 and 228.206, Transportation |
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Code, are repealed. |
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SECTION 15. The changes in law made by this Act do not |
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prohibit use of money in the state highway fund that is necessary to |
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comply with the terms of a bond resolution or other agreement in |
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effect on the effective date of this Act governing the issuance of |
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bonds or other obligations secured by money in the fund. |
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SECTION 16. This Act takes effect September 1, 2017. |