Relating to the provision by a regional mobility authority of financial assistance for transportation projects of governmental entities located in the area of the authority; providing authority to issue bonds.
Impact
The passage of HB 4888 would grant regional mobility authorities a broader range of financial tools to aid local governments in funding transportation initiatives. By enabling authorities to issue revenue bonds and offering various forms of credit support, this bill aims to streamline the funding process for critical transport projects. The impact is anticipated to be significant, particularly in areas that require upgraded infrastructure or new transit solutions, thus potentially enhancing mobility across regions within Texas.
Summary
House Bill 4888 introduces provisions allowing regional mobility authorities in Texas to provide financial assistance for transportation projects undertaken by governmental entities. This bill amends the Transportation Code, specifically Section 370.174, enhancing the authority's ability to assist by extending credit, subsidizing interest rates, and providing financial security for associated bonds. This initiative aims to improve transportation infrastructure and support local governance in achieving their transportation goals effectively.
Contention
While the bill aims to facilitate the financing of essential transportation projects, it may face scrutiny regarding the implications for financial management within governmental entities. Critics may express concern over the financial obligations and responsibilities that local governments will assume, such as the necessity to levy charges or taxes to secure funds. Moreover, there could be debates around the effectiveness of regional mobility authorities assuming a more prominent role in public finance, particularly in relation to local governance dynamics.
Identical
Relating to the provision by a regional mobility authority of financial assistance for transportation projects of governmental entities located in the area of the authority; providing authority to issue bonds.
Relating to the creation of the Dallas Municipal Management District; providing authority to issue bonds; providing authority to impose assessments and fees.
Relating to the creation of the Dallas Municipal Management District; providing authority to issue bonds; providing authority to impose assessments and fees.
Relating to the creation of the Williamson County Development District No. 1; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Relating to the creation of the Presidio International Port Authority District; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Relating to the creation of the Presidio International Port Authority District; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Relating to the funding of projects by the Public Utility Commission of Texas to promote the reliability and resiliency of the power grid in this state; authorizing the issuance of revenue bonds.
Relating to the creation of the Northeast Houston Redevelopment District; providing authority to issue bonds; providing authority to impose assessments or fees.
Relating to the creation of the Montgomery County Management District No. 2; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Torts: governmental immunity; liability for highway defects; clarify that governmental tort liability act applies to county road commissions. Amends sec. 2 of 1964 PA 170 (MCL 691.1402). TIE BAR WITH: HB 4940'23
Relating to the provision by a regional mobility authority of financial assistance for transportation projects of governmental entities located in the area of the authority; providing authority to issue bonds.