Bill Text: TX HB2357 | 2023-2024 | 88th Legislature | Comm Sub
Bill Title: Relating to provision to the Texas Department of Transportation of information regarding certain high-speed rail projects.
Spectrum: Partisan Bill (Republican 4-0)
Status: (Introduced - Dead) 2023-05-12 - Returned to Local & Consent Calendars Comm. [HB2357 Detail]
Download: Texas-2023-HB2357-Comm_Sub.html
| 88R9836 JAM-D | ||
| By: Harris of Anderson, Orr, et al. | H.B. No. 2357 | |
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| relating to provision to the Texas Department of Transportation of | ||
| information regarding certain high-speed rail projects. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter B, Chapter 111, Transportation Code, | ||
| is amended by adding Section 111.059 to read as follows: | ||
| Sec. 111.059. INFORMATION ON CERTAIN HIGH-SPEED RAIL | ||
| PROJECTS. (a) In this section, "high-speed rail" has the meaning | ||
| assigned by Section 112.201. | ||
| (b) An entity that proposes a high-speed rail project shall | ||
| submit to the department each year that the project is included in | ||
| the Texas Rail Plan the following information: | ||
| (1) the proposed method of financing of the | ||
| construction or acquisition of the project, including: | ||
| (A) the extent to which funds for financing are | ||
| currently available; and | ||
| (B) for any securities to be issued: | ||
| (i) the approximate terms of sale and total | ||
| fixed charges of the securities; | ||
| (ii) whether the securities issued will be | ||
| underwritten by industries to be served by the proposed line; and | ||
| (iii) an explanation of how the fixed | ||
| charges will be met; | ||
| (2) a recent balance sheet; | ||
| (3) a present value determination of the full costs of | ||
| the proposal; | ||
| (4) if construction is proposed, the costs for each | ||
| year of the construction; | ||
| (5) a proposed schedule for completion of the project, | ||
| including timeline for permitting, funding, and land acquisition; | ||
| (6) ridership projections and methodology; | ||
| (7) the proposed route; | ||
| (8) an organization chart of the entity's management | ||
| and staff; and | ||
| (9) a disclosure of any current or planned foreign | ||
| investment in the project. | ||
| (c) The department shall make the information submitted | ||
| under this section available to the public on the department's | ||
| Internet website. | ||
| SECTION 2. This Act takes effect September 1, 2023. | ||
