Bill Text: TX HB1234 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to the filing of a bond by a private high-speed rail operator with the Texas Department of Transportation.
Sponsorship: Partisan Bill (Republican 1)
Status: (Introduced - Dead) 2019-04-16 - Left pending in subcommittee [HB1234 Detail]
Download: Texas-2019-HB1234-Introduced.html
| 86R3182 JTS-D | ||
| By: Bell of Montgomery | H.B. No. 1234 | |
|
|
||
|
|
||
| relating to the filing of a bond by a private high-speed rail | ||
| operator with the Texas Department of Transportation. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter B, Chapter 112, Transportation Code, | ||
| is amended by adding Section 112.063 to read as follows: | ||
| Sec. 112.063. BOND FOR RESTORATION OF REAL PROPERTY USED BY | ||
| PRIVATE HIGH-SPEED RAIL OPERATOR. (a) In this section, | ||
| "high-speed rail service" means intercity passenger rail service | ||
| that is reasonably expected to reach speeds of at least 110 miles | ||
| per hour. | ||
| (b) Before a private entity begins operation of high-speed | ||
| rail service, including the extension of an existing service, the | ||
| entity must file with the department a bond in an amount determined | ||
| by the commission to be sufficient to restore real property used for | ||
| the service to its original condition if the service ceases | ||
| operation. | ||
| SECTION 2. This Act takes effect September 1, 2019. | ||
