Bill Text: TX HB2219 | 2021-2022 | 87th Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the issuance of Texas Mobility Fund obligations.
Spectrum: Bipartisan Bill
Status: (Passed) 2021-06-18 - Effective immediately [HB2219 Detail]
Download: Texas-2021-HB2219-Comm_Sub.html
Bill Title: Relating to the issuance of Texas Mobility Fund obligations.
Spectrum: Bipartisan Bill
Status: (Passed) 2021-06-18 - Effective immediately [HB2219 Detail]
Download: Texas-2021-HB2219-Comm_Sub.html
By: Canales, Lopez, Thompson of Brazoria | H.B. No. 2219 | |
(Senate Sponsor - Nichols, Hinojosa) | ||
(In the Senate - Received from the House May 5, 2021; | ||
May 10, 2021, read first time and referred to Committee on | ||
Transportation; May 17, 2021, reported favorably by the following | ||
vote: Yeas 8, Nays 0; May 17, 2021, sent to printer.) | ||
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relating to the issuance of Texas Mobility Fund obligations. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 201.943(a), Transportation Code, is | ||
amended to read as follows: | ||
(a) Subject to Subsections (e), (f), and (g), [ |
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commission by order or resolution may issue obligations in the name | ||
and on behalf of the state and the department and may enter into | ||
credit agreements related to the obligations. The obligations may | ||
be issued in multiple series and issues from time to time in an | ||
aggregate amount not exceeding the maximum obligation amount. The | ||
obligations may be issued on and may have the terms and provisions | ||
the commission determines appropriate and in the interests of the | ||
state. The obligations may be issued as long-term obligations, | ||
short-term obligations, or both. The latest scheduled maturity of | ||
an issue or series of obligations may not exceed 30 years. | ||
SECTION 2. Section 201.943(l), Transportation Code, is | ||
repealed. | ||
SECTION 3. 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, 2021. | ||
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