Because the amount of funds that would be provided to the Department of Transportation by the private participant under the agreement required by the bill is unknown, the fiscal implications to the State cannot be determined at this time.
The bill would amend Transportation Code ยง223.208 to require an amendment to a comprehensive development agreement (CDA) entered into for State Highway 130 (Segments 5 and 6) to extend the term of the CDA for an additional 20 years if the amendment outlines the benefit to the state and requires the private participant to provide funds to the Texas Department of Transportation (TxDOT) in an amount agreed to by TxDOT and the private participant. The bill would require the amount of funds provided by the private participant to take into account a traffic and revenue study based on certain criteria prescribed by the bill. The bill would require TxDOT to use funds received under the agreement to finance transportation projects on the state highway system. The bill would take effect on September 1, 2021.
Based on the information provided by TxDOT, it is assumed any costs or duties associated with extending the term of the CDA could be absorbed within the agency's existing resources. TxDOT reports that the current term of the State Highway 130 (Segments 5 and 6) concession agreement ends in 2062 and the valuation of the proposed extension would take into consideration traffic and toll revenue for years 2063 to 2082. Because the amount of funds that the private participant in the agreement would provide to TxDOT for the funding of highway projects is unknown, the fiscal implications of the bill cannot be determined at this time.
No fiscal implication to units of local government is anticipated.