Bill Text: TX SB1727 | 2021-2022 | 87th Legislature | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to certain local government corporations created for the development, construction, operation, management, or financing of transportation projects.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Passed) 2021-06-07 - Effective immediately [SB1727 Detail]

Download: Texas-2021-SB1727-Introduced.html
 
 
  By: Nichols S.B. No. 1727
 
 
 
   
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to local government corporations created for the
  development, construction, operation, management, or financing of
  transportation projects.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter D, Chapter 431, Transportation Code,
  is amended by adding Section 431.1015 to read as follows:
         Sec. 431.1015.  CORPORATIONS OF CERTAIN POPULOUS COUNTIES
  FOR TOLL PROJECTS.  (a)  Notwithstanding Chapter 284 or any other
  law, a county with a population of more than four million may not
  create a local government corporation under this chapter to
  develop, construct, operate, manage, or finance a toll project or
  system located in the county.
         (b)  An existing local government corporation created by a
  county described by Subsection (a) for the purposes described by
  that subsection:
               (1)  may not:
                     (A)  undertake any new bonds, notes, or other
  obligations or extend the terms of any existing bonds, notes or
  other obligations; or
                     (B)  enter into any new contracts or extend the
  terms of any existing contracts; and
               (2)  must be dissolved when all bonds, notes and other
  obligations and contracts of the corporation have been satisfied.
         (c)  This subsection and Subsection (b) expire on the date
  that the local government corporation described by Subsection (b)
  is dissolved.
         SECTION 2.  Section 431.107, Transportation Code, is amended
  by adding Subsection (c) to read as follows:
         (c)  Notwithstanding any other provision of this chapter,
  income earned and revenues received by a local government
  corporation created in a county to which Chapter 284 applies may
  only be used to pay the a costs of a turnpike project, as that term
  is defined by Section 370.003(15) or for a road, street, or highway
  projects as provided for under section 284.0031.
         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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