Bill Text: TX HB2186 | 2011-2012 | 82nd Legislature | Introduced
Bill Title: Relating to comprehensive development agreements.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2011-03-30 - Left pending in committee [HB2186 Detail]
Download: Texas-2011-HB2186-Introduced.html
82R9198 JTS-D | ||
By: Harper-Brown | H.B. No. 2186 |
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relating to comprehensive development agreements. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter E, Chapter 223, Transportation Code, | ||
is amended by adding Section 223.2011 to read as follows: | ||
Sec. 223.2011. LIMITED AUTHORITY FOR CERTAIN PROJECTS USING | ||
COMPREHENSIVE DEVELOPMENT AGREEMENTS. (a) Notwithstanding | ||
Sections 223.201(f) and (i), the department may enter into a | ||
comprehensive development agreement relating to managed lane | ||
improvements to State Highway 183 between State Highway 161 and | ||
Interstate Highway 35E. | ||
(b) This section expires August 31, 2013. | ||
SECTION 2. Section 371.101, Transportation Code, is amended | ||
to read as follows: | ||
Sec. 371.101. TERMINATION BY PURCHASE [ |
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(a) A comprehensive development agreement must contain a | ||
provision authorizing the toll project entity to purchase, under | ||
terms agreed to by the parties: | ||
(1) the interest of a private participant in the toll | ||
project that is the subject of the agreement; and | ||
(2) related property, including any interest in a | ||
highway or other facility designed, developed, financed, | ||
constructed, operated, or maintained under the agreement. | ||
(b) The provision must include a schedule stating a specific | ||
price for the purchase of the toll project at certain intervals from | ||
the date the project opens, not less than one year and not to exceed | ||
five years, over the term of the agreement. | ||
(c) The provision must authorize the toll project entity to | ||
purchase the private entity's interest at a stated interval in an | ||
amount not to exceed the lesser of: | ||
(1) the price stated for that interval; or | ||
(2) the greater of: | ||
(A) the then fair market value of the private | ||
entity's interest; or | ||
(B) an amount equal to the amount of outstanding | ||
debt at that time, as specified in the comprehensive development | ||
agreement. | ||
(d) A toll project entity may not, under any circumstance, | ||
purchase the private entity's interest for an amount higher than | ||
the stated interval amount. | ||
(e) A contract to purchase the private entity's interest at | ||
the then fair market value as described by Subsection (c)(2)(A) | ||
must contain a provision, mutually agreed on by the toll project | ||
entity and the private participant, detailing the calculation used | ||
to determine that value. | ||
(f) The toll project entity shall request a proposed | ||
termination-by-purchase schedule in each request for detailed | ||
proposals and shall consider and score each schedule in each | ||
evaluation of proposals. | ||
(g) A private entity shall, not later than 12 months before | ||
the date that a new price interval takes effect, notify the toll | ||
project entity of the beginning of the price interval. The toll | ||
project entity must notify the private entity as to whether it will | ||
exercise the option to purchase under this section not later than | ||
six months after the date it receives notice under this subsection. | ||
(h) A toll project entity must notify the private entity of | ||
the toll project entity's intention to purchase the private | ||
entity's interest under this section not less than six months | ||
before the date of the purchase. [ |
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SECTION 3. Sections 371.103(b) and (c), Transportation | ||
Code, are amended to read as follows: | ||
(b) Except as provided by Subsection (c), a comprehensive | ||
development agreement may contain a provision authorizing the toll | ||
project entity to compensate the private participant in the | ||
agreement for the loss of toll revenues attributable to the | ||
construction by the entity of a limited access highway project | ||
located within an area that extends up to four miles from either | ||
side of the centerline of the project developed under the | ||
agreement, less the private participant's decreased operating and | ||
maintenance costs attributable to the highway project, if any. A | ||
provision under this subsection may be effective only for a period | ||
of 30 years or less from the effective date of the agreement. | ||
(c) A comprehensive development agreement may not require | ||
the toll project entity to provide compensation for the | ||
construction of: | ||
(1) a highway project contained in the state | ||
transportation plan or a transportation plan of a metropolitan | ||
planning organization in effect on the effective date of the | ||
agreement; | ||
(2) work on or improvements to a highway project | ||
necessary for improved safety, or for maintenance or operational | ||
purposes; | ||
(3) a high occupancy vehicle exclusive lane addition | ||
or other work on any highway project that is required by an | ||
environmental regulatory agency; [ |
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(4) a transportation project that provides a mode of | ||
transportation that is not included in the project that is the | ||
subject of the comprehensive development agreement; or | ||
(5) a highway designated an interstate highway. | ||
SECTION 4. Sections 371.101 and 371.103, Transportation | ||
Code, as amended by this Act, apply only to a comprehensive | ||
development agreement entered into on or after the effective date | ||
of this Act. A comprehensive development agreement entered into | ||
before the effective date of this Act is governed by the law in | ||
effect on the date the agreement was entered into, and the former | ||
law is continued in effect for that purpose. | ||
SECTION 5. 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, 2011. |