| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to local government corporations created for the |
|
|
development, construction, operation, management, or financing of |
|
|
transportation projects. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Subchapter D, Chapter 431, Transportation Code, |
|
|
is amended by adding Section 431.1015 to read as follows: |
|
|
Sec. 431.1015. CORPORATIONS OF CERTAIN POPULOUS COUNTIES |
|
|
FOR TOLL PROJECTS. (a) Notwithstanding Chapter 284 or any other |
|
|
law, a county with a population of more than four million may not |
|
|
create a local government corporation under this chapter to |
|
|
develop, construct, operate, manage, or finance a toll project or |
|
|
system located in the county. |
|
|
(b) An existing local government corporation created by a |
|
|
county described by Subsection (a) for the purposes described by |
|
|
that subsection: |
|
|
(1) may not: |
|
|
(A) undertake any new bonds, notes, or other |
|
|
obligations or extend the terms of any existing bonds, notes or |
|
|
other obligations; or |
|
|
(B) enter into any new contracts or extend the |
|
|
terms of any existing contracts; and |
|
|
(2) must be dissolved when all bonds, notes and other |
|
|
obligations and contracts of the corporation have been satisfied. |
|
|
(c) This subsection and Subsection (b) expire on the date |
|
|
that the local government corporation described by Subsection (b) |
|
|
is dissolved. |
|
|
SECTION 2. Section 431.107, Transportation Code, is amended |
|
|
by adding Subsection (c) to read as follows: |
|
|
(c) Notwithstanding any other provision of this chapter, |
|
|
income earned and revenues received by a local government |
|
|
corporation created in a county to which Chapter 284 applies may |
|
|
only be used to pay the a costs of a turnpike project, as that term |
|
|
is defined by Section 370.003(15) or for a road, street, or highway |
|
|
projects as provided for under section 284.0031. |
|
|
SECTION 3. This Act takes effect immediately if it receives |
|
|
a vote of two-thirds of all the members elected to each house, as |
|
|
provided by Section 39, Article III, Texas Constitution. If this |
|
|
Act does not receive the vote necessary for immediate effect, this |
|
|
Act takes effect September 1, 2021. |