88R9836 JAM-D
 
  By: Harris of Anderson, Orr, et al. H.B. No. 2357
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  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.