Honorable Terry Canales, Chair, House Committee on Transportation
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HB1234 by Bell, Cecil (Relating to the filing of a bond by a private high-speed rail operator with the Texas Department of Transportation.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend Subchapter B, Chapter 112, Transportation Code, to require a private high-speed rail operator to file with the Texas Department of Transportation a bond in an amount determined by the Transportation Commission to be sufficient to restore real property used for high-speed rail service to its original condition if the service ceases operation.
TxDOT anticipates that costs would be incurred to determine and develop appraisals to set an amount of the bond required to restore real property to its original condition. Based on the information provided by TxDOT, it is assumed any costs associated with implementing the provisions of the bill could be absorbed within the agency's existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.