85R3631 JTS-D
 
  By: Schwertner S.B. No. 978
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the filing of a bond by a private high-speed rail
  operator with the Texas Department of Transportation.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 112, Transportation Code,
  is amended by adding Section 112.063 to read as follows:
         Sec. 112.063.  BOND FOR RESTORATION OF REAL PROPERTY USED BY
  PRIVATE HIGH-SPEED RAIL OPERATOR. (a) In this section, "high-speed
  rail service" means intercity passenger rail service that is
  reasonably expected to reach speeds of at least 110 miles per hour.
         (b)  Before a private entity begins operation of high-speed
  rail service, including the extension of an existing service, the
  entity must file with the department a bond in an amount determined
  by the commission to be sufficient to restore real property used for
  the service to its original condition if the service ceases
  operation.
         SECTION 2.  This Act takes effect September 1, 2017.