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

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-Comm_Sub.html
 
 
  By: Nichols  S.B. No. 1727
         (In the Senate - Filed March 11, 2021; March 26, 2021, read
  first time and referred to Committee on Transportation;
  April 8, 2021, reported adversely, with favorable Committee
  Substitute by the following vote:  Yeas 8, Nays 0, one present not
  voting; April 8, 2021, sent to printer.)
Click here to see the committee vote
 
  COMMITTEE SUBSTITUTE FOR S.B. No. 1727 By:  Nichols
 
 
A BILL TO BE ENTITLED
 
AN ACT
 
  relating to certain 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 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.
         (d)  Notwithstanding any other provision of this chapter,
  income earned and revenues received by or from a local government
  corporation created to develop, construct, operate, manage, or
  finance a toll project or system under Chapter 284 may be used only
  to pay the costs of a turnpike project, as defined by Section
  370.003, or a road, street, or highway project as provided for under
  Section 284.0031.
         SECTION 2.  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.
 
  * * * * *
feedback