88R8154 KJE-D
 
  By: Jetton H.B. No. 3812
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the establishment and use of the Texas Infrastructure
  Fund.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Chapter 403, Government Code, is amended by
  adding Subchapter U to read as follows:
  SUBCHAPTER U. TEXAS INFRASTRUCTURE FUND
         Sec. 403.651.  DEFINITION. In this subchapter, "fund" means
  the Texas Infrastructure Fund.
         Sec. 403.652.  TEXAS INFRASTRUCTURE FUND. (a)  The Texas
  Infrastructure Fund is established as a fund in the state treasury
  outside the general revenue fund.
         (b)  The fund consists of:
               (1)  money appropriated to the credit of the fund; and
               (2)  the interest and other earnings attributable to
  the investment of money in the fund.
         (c)  Money in the fund may be appropriated only to the
  comptroller for the purpose of awarding grants to public or private
  entities for infrastructure projects under this subchapter,
  including infrastructure projects involving:
               (1)  water, ports, or other marine infrastructure;
               (2)  broadband;
               (3)  highways, toll roads, or bridges;
               (4)  aviation;
               (5)  rail; or
               (6)  other transit infrastructure.
         Sec. 403.653.  OVERSIGHT COMMITTEE. (a)  The comptroller
  shall establish an oversight committee to make recommendations to
  the comptroller regarding the awarding of grants from money
  appropriated from the fund.
         (b)  The oversight committee is composed of the following
  seven members:
               (1)  the governor or the governor's designee;
               (2)  the lieutenant governor or the lieutenant
  governor's designee;
               (3)  the speaker of the house of representatives or the
  speaker's designee;
               (4)  the commissioner of the General Land Office or the
  commissioner's designee;
               (5)  the comptroller or the comptroller's designee;
               (6)  the executive director of the Texas Department of
  Transportation or the executive director's designee; and
               (7)  the chief financial officer of the Texas
  Department of Transportation or the officer's designee.
         Sec. 403.654.  AWARD OF GRANTS. To the extent practicable,
  the comptroller shall award grants from money appropriated from the
  fund in a manner that:
               (1)  takes into account the recommendations made to the
  comptroller by the oversight committee under Section 403.653; 
               (2)  ensures that the amount awarded for a specific
  type of infrastructure project does not exceed 50 percent of the
  amount appropriated from the fund; and
               (3)  promotes and supports public-private partnerships
  that the comptroller determines:
                     (A)  are financially viable;
                     (B)  will diversify the methods of financing
  available for infrastructure projects; and
                     (C)  will reduce reliance on the issuance of
  general obligation bonds supported with state general revenue.
         Sec. 403.655.  RULES. (a)  The comptroller shall adopt rules
  regarding the awarding of grants from money appropriated from the
  fund, including rules regarding:
               (1)  eligibility criteria for grant applicants;
               (2)  grant application procedures;
               (3)  criteria for evaluating grant applications and
  awarding grants;
               (4)  guidelines related to grant amounts; and
               (5)  procedures for monitoring the use of a grant and
  ensuring compliance with any conditions of the grant.
         (b)  The rules adopted under Subsection (a) may include rules
  requiring a grantee to provide matching funds as a condition of the
  grant.
         SECTION 2.  This Act takes effect September 1, 2023.