BILL ANALYSIS

H.B. 2531

By: Romero, Jr.

Transportation

Committee Report (Unamended)

BACKGROUND AND PURPOSE

It has been suggested that the authorization for certain regional transportation authorities to enter into financial agreements with non-governmental entities for purposes of encouraging private investment with a transportation authority is too narrow in scope. H.B. 2531 seeks to address this issue by extending the authority to enter into these agreements to other regional transportation authorities.

CRIMINAL JUSTICE IMPACT

It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.

RULEMAKING AUTHORITY

It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.

ANALYSIS

H.B. 2531 amends the Transportation Code to prohibit a regional transportation authority without a municipality with a population of more than 1.1 million and consisting of one subregion governed by a subregional board from entering a lease or financing agreement secured wholly or partially by the assets of the authority if the duration of the lease or financing agreement is longer than five years, unless the lease or agreement is approved by the voters of the authority in the manner provided for the issuance of bonds and notes. The bill authorizes such an authority, for purposes of providing tax benefits to another party that are available with respect to property under the laws of a foreign country or for purposes of encouraging private investment with a transportation authority in the United States, to enter into and execute, as the regional transportation authority considers appropriate, contracts, agreements, notes, security agreements, conveyances, bills of sale, deeds, leases as lessee or lessor, and currency hedges, swap transactions, or agreements relating to foreign and domestic currency.

EFFECTIVE DATE

On passage, or, if the bill does not receive the necessary vote, September 1, 2019.