Bill Text: TX SB639 | 2017-2018 | 85th Legislature | Introduced
Bill Title: Relating to the use of money in the state highway fund for toll projects.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-02-13 - Referred to Transportation [SB639 Detail]
Download: Texas-2017-SB639-Introduced.html
85R407 JAM-D | ||
By: Huffines | S.B. No. 639 |
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relating to the use of money in the state highway fund for toll | ||
projects. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 162.503, Tax Code, is amended to read as | ||
follows: | ||
Sec. 162.503. ALLOCATION OF GASOLINE TAX. [ |
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before the fifth workday after the end of each month, the | ||
comptroller, after making all deductions for refund purposes and | ||
for the amounts allocated under Sections 162.502 and 162.5025, | ||
shall allocate the net remainder of the taxes collected under | ||
Subchapter B as follows: | ||
(1) one-fourth of the tax shall be deposited to the | ||
credit of the available school fund; | ||
(2) one-half of the tax shall be deposited to the | ||
credit of the state highway fund for the construction and | ||
maintenance of the state road system, other than toll roads, under | ||
existing law; and | ||
(3) from the remaining one-fourth of the tax the | ||
comptroller shall: | ||
(A) deposit to the credit of the county and road | ||
district highway fund all the remaining tax receipts until a total | ||
of $7,300,000 has been credited to the fund each fiscal year; and | ||
(B) after the amount required to be deposited to | ||
the county and road district highway fund has been deposited, | ||
deposit to the credit of the state highway fund the remainder of the | ||
one-fourth of the tax, the amount to be provided on the basis of | ||
allocations made each month of the fiscal year, which sum shall be | ||
used by the Texas Department of Transportation for the | ||
construction, improvement, and maintenance of farm-to-market | ||
roads. | ||
SECTION 2. Section 201.002(c), Transportation Code, is | ||
amended to read as follows: | ||
(c) All money authorized to be appropriated in accordance | ||
with this section for the operation of the department and the | ||
purchase of equipment shall be appropriated from the state highway | ||
fund. The commission shall use the amount remaining in the fund for | ||
the furtherance of public road construction, other than toll roads, | ||
and for establishing a system of state highways. | ||
SECTION 3. Section 202.002(a), Transportation Code, is | ||
amended to read as follows: | ||
(a) The commission shall use automobile registration fees | ||
in the state highway fund to maintain state highways, other than | ||
toll roads, and may not divert funds from automobile registration | ||
fees for another use. | ||
SECTION 4. Section 222.001, Transportation Code, is amended | ||
by adding Subsection (c) to read as follows: | ||
(c) Notwithstanding Section 222.103, the legislature may | ||
not appropriate money deposited to the credit of the state highway | ||
fund to construct, maintain, or acquire rights-of-way for a toll | ||
project or system. | ||
SECTION 5. Section 222.002, Transportation Code, is amended | ||
to read as follows: | ||
Sec. 222.002. USE OF STATE HIGHWAY FUND FOR DEPARTMENT | ||
FUNCTIONS. Money in the state highway fund that is not required to | ||
be spent for public roadways by the Texas Constitution or federal | ||
law may be used for any function performed by the department other | ||
than a function related to a toll project or system. | ||
SECTION 6. Section 222.004(g), Transportation Code, is | ||
amended to read as follows: | ||
(g) Bonds may be issued for one or more of the following | ||
purposes: | ||
(1) to pay all or part of the costs of highway | ||
improvement projects, other than an improvement project for a toll | ||
road; and | ||
(2) to pay: | ||
(A) the costs of administering projects | ||
authorized under this section; | ||
(B) the cost or expense of the issuance of the | ||
bonds; or | ||
(C) all or part of a payment owed or to be owed | ||
under a credit agreement. | ||
SECTION 7. Section 228.006(a), Transportation Code, is | ||
amended to read as follows: | ||
(a) The commission shall authorize the use of surplus | ||
revenue of a toll project or system to pay the costs of a | ||
transportation project or [ |
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project, or an air quality project within a region in which any part | ||
of the toll project is located. | ||
SECTION 8. Section 228.053(f), Transportation Code, is | ||
amended to read as follows: | ||
(f) The revenue and disbursements for each toll project or | ||
system shall be kept separately. The revenue from one project may | ||
not be used to pay the cost of another project except as authorized | ||
by Section [ |
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SECTION 9. Section 228.104(a), Transportation Code, is | ||
amended to read as follows: | ||
(a) The principal of, interest on, and any redemption | ||
premium on bonds issued by the commission under this subchapter are | ||
payable solely from: | ||
(1) the revenue of the toll project or system for which | ||
the bonds are issued, including tolls pledged to pay the bonds; | ||
(2) the proceeds of bonds issued for the project or | ||
system; | ||
(3) the amounts deposited in a debt service reserve | ||
fund as required by the trust agreement securing bonds issued for | ||
the project or system; | ||
(4) amounts received under a credit agreement relating | ||
to the project or system for which the bonds are issued; and | ||
(5) [ |
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(A) as pass-through tolls under Section 222.104; | ||
(B) under an agreement with a local governmental | ||
entity entered into under Section 228.254; | ||
(C) under other agreements with a local | ||
governmental entity relating to the project or system for which the | ||
bonds are issued; and | ||
(D) under a comprehensive development agreement | ||
entered into under Section 223.201. | ||
SECTION 10. Section 228.105, Transportation Code, is | ||
amended to read as follows: | ||
Sec. 228.105. SOURCES OF PAYMENT OF AND SECURITY FOR TOLL | ||
REVENUE BONDS. Notwithstanding any other provisions of this | ||
subchapter, toll revenue bonds issued by the commission may: | ||
(1) be payable from and secured by: | ||
(A) payments made under an agreement with a local | ||
governmental entity as provided by Section 228.254; | ||
(B) the proceeds of bonds issued for the toll | ||
project or system; or | ||
(C) amounts deposited in a debt service reserve | ||
fund as required by the trust agreement securing bonds issued for | ||
the project or system; [ |
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(2) state on their faces any pledge of revenue or taxes | ||
and any security for the bonds under the agreement. | ||
SECTION 11. Section 366.174(b), Transportation Code, is | ||
amended to read as follows: | ||
(b) An authority may transfer into its revolving fund money | ||
from any permissible source, including: | ||
(1) money from a turnpike project if the transfer does | ||
not diminish the money available for the project or the system, if | ||
any, of which it is a part to less than an amount required to be | ||
retained by the bond proceedings pertaining to the project or | ||
system; | ||
(2) money received by the authority from any source | ||
and not otherwise committed, including money from the transfer of a | ||
turnpike project or system or sale of authority assets; and | ||
(3) [ |
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from the United States, another state, a political subdivision of | ||
this state, a foreign governmental entity, including the United | ||
Mexican States or a state of the United Mexican States, a local | ||
governmental entity, any private enterprise, or any person. | ||
SECTION 12. Section 370.033(m), Transportation Code, is | ||
amended to read as follows: | ||
(m) If an authority receives money from the general revenue | ||
fund or [ |
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may use the money only to acquire, design, finance, construct, | ||
operate, or maintain a turnpike project under Section | ||
370.003(14)(A) or (D) or a transit system under Section 370.351. If | ||
an authority receives money from the state highway fund, it may use | ||
the money only to acquire, design, finance, construct, operate, or | ||
maintain a transportation project under Section 370.003(14)(D). | ||
SECTION 13. Section 373.102(d), Transportation Code, is | ||
amended to read as follows: | ||
(d) Money received by the department under this section | ||
shall be deposited in the state highway fund and, except for | ||
reimbursement for costs owed to a third party, used to fund | ||
additional projects, other than toll projects, in the department | ||
district in which the toll project is located. | ||
SECTION 14. Sections 228.204 and 228.206, Transportation | ||
Code, are repealed. | ||
SECTION 15. The changes in law made by this Act do not | ||
prohibit use of money in the state highway fund that is necessary to | ||
comply with the terms of a bond resolution or other agreement in | ||
effect on the effective date of this Act governing the issuance of | ||
bonds or other obligations secured by money in the fund. | ||
SECTION 16. This Act takes effect September 1, 2017. |