86R12364 SLB-D
 
  By: Deshotel H.B. No. 3850
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the funding of certain ship channel improvements.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 56.001(1), Transportation Code, is
  amended to read as follows:
               (1)  "Board [Commission]" means the Texas Water
  Development Board [Transportation Commission].
         SECTION 2.  Sections 56.002(a), (b), and (c), Transportation
  Code, are amended to read as follows:
         (a)  The ship channel improvement revolving fund is an
  account in the general revenue fund. The fund is administered by
  the board [commission].
         (b)  The following money shall be credited to the fund:
               (1)  money the board [commission] receives as a gift,
  grant, or donation for a purpose of this chapter;
               (2)  money appropriated to the board [commission] for
  the purposes of this chapter;
               (3)  money received by the board [commission] for the
  repayment of a loan made by the program established under Section
  56.003; and
               (4)  interest earned on deposits and investments of the
  fund.
         (c)  Money in the fund may be appropriated only to the board
  [commission] for the purposes of administering the fund and the
  program established under Section 56.003.
         SECTION 3.  Sections 56.003(a) and (b), Transportation Code,
  are amended to read as follows:
         (a)  The board [commission] by rule shall establish a
  revolving loan program to use money from the fund to finance
  qualified projects for navigation districts.
         (b)  To be a qualified project, a project must:
               (1)  deepen or widen a ship channel;
               (2)  be authorized by the United States Congress
  through the Water Resources Development Act; and
               (3)  meet any other standards provided by board
  [commission] rule.
         SECTION 4.  This Act takes effect September 1, 2019.