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A BILL TO BE ENTITLED
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AN ACT
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relating to the amendment of an existing comprehensive development |
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agreement for a portion of State Highway 130. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 223.208, Transportation Code, is amended |
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by adding Subsections (i), (j), and (k) to read as follows: |
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(i) Notwithstanding Subsection (h), the department shall |
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amend a comprehensive development agreement entered into on or |
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before March 22, 2007, for State Highway 130 from U.S. Highway 183 |
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to Interstate Highway 10 (Segments 5 and 6) to extend the term of |
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the agreement for an additional 20 years if the amendment: |
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(1) outlines the benefit the state will derive from |
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extending the term; and |
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(2) requires the private participant to provide funds |
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to the department in an amount agreed to by the department and the |
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private participant. |
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(j) The amount of funds provided by the private participant |
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under Subsection (i)(2) must take into account a traffic and |
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revenue study using: |
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(1) toll escalation rates consistent with the |
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comprehensive development agreement described by Subsection (i) |
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and calculated based on: |
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(A) the most recent gross state product forecasts |
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published by the comptroller; and |
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(B) third-party market-based inflation forecasts |
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produced by a nationally recognized government agency or financial |
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institution; and |
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(2) transaction growth rates based exclusively on: |
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(A) transaction growth rates since 2015 for the |
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project that is the subject of the comprehensive development |
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agreement described by Subsection (i); |
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(B) population growth forecasts for the counties |
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in which the project that is the subject of the comprehensive |
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development agreement described by Subsection (i) is located, |
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prepared by the metropolitan planning organizations in which the |
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project is located; and |
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(C) long-term demographic forecasts based on the |
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most recent state population forecasts published by the Texas Water |
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Development Board. |
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(k) The funds received under Subsection (i)(2) must be used |
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by the commission or the department to finance the construction, |
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maintenance, or operation of transportation projects or air quality |
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projects in the department districts located in the boundaries of |
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the metropolitan planning organization in which the project that is |
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the subject of the comprehensive development agreement described by |
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Subsection (i) is located. The department shall allocate funds to |
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the department districts based on the percentage of toll revenue |
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from users from each of those department districts. |
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SECTION 2. This Act takes effect September 1, 2021. |