Bill Text: TX HB2197 | 2017-2018 | 85th Legislature | Introduced
Bill Title: Relating to the creation of a port capital project revolving loan program by the Texas Department of Transportation.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2017-03-21 - Referred to Transportation [HB2197 Detail]
Download: Texas-2017-HB2197-Introduced.html
85R9891 MTB-D | ||
By: Oliveira | H.B. No. 2197 |
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relating to the creation of a port capital project revolving loan | ||
program by the Texas Department of Transportation. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Chapter 55, Transportation Code, is amended by | ||
adding Section 55.010 to read as follows: | ||
Sec. 55.010. PORT CAPITAL PROJECT REVOLVING LOAN PROGRAM. | ||
(a) The department shall establish a revolving loan program to | ||
provide loans to port authorities and navigation districts for port | ||
security projects, transportation projects, and other projects | ||
eligible for funding under Section 55.002(c). The department by | ||
rule shall, after consideration of the committee's | ||
recommendations, develop policies and procedures to administer the | ||
loan program from funds appropriated to the department for that | ||
purpose. | ||
(b) The department shall enter into a written agreement with | ||
a port authority or navigation district that receives a loan under | ||
the program that contains the terms of the loan, including loan | ||
repayment requirements. | ||
SECTION 2. This Act takes effect September 1, 2017. |