The bill would amend Transportation Code, Section 55.002, relating to port development funding from the Port Access Account Fund (PAAF), to specify that no one port applicant eligible for funding under that section may receive more than 20 percent of the total amount appropriated to the Department of Transportation (TxDOT) in a fiscal biennium to fund eligible port projects.
The bill would amend Transportation Code, Section 55.005, to specify that money appropriated to the PAAF by the Legislature and money received from the federal government are to be deposited to the credit of the PAAF.
Note: This legislation would do one or more of the following: create or recreate a dedicated account in the General Revenue Fund, create or recreate a special or trust fund either in, with, or outside the Treasury, or create a dedicated revenue source. The fund, account, or revenue dedication included in this bill would be subject to funds consolidation review by the current Legislature.
Based on the information provided by TxDOT, it is assumed any costs or duties associated with implementing the provisions of the bill could be absorbed within the agency's existing resources.
No fiscal implication to units of local government is anticipated.