Texas Senate Bill SB1350

Texas 2009 - 81st Regular

• Out of Senate Committee: 4/17/09
• Voted on by Senate: 4/28/09
• Out of House Committee: 5/20/09

Caption

Relating to the creation, administration, financing, and use of a Texas Transportation Revolving Fund; granting the authority to issue bonds.

Impact

The establishment of a revolving fund is expected to provide a more streamlined approach to transportation financing, allowing for quicker responses to infrastructure needs. SB1350 aims to consolidate various funding sources for transportation improvements, including bonds and state funds, which may lead to a more coordinated investment strategy across Texas. The bill's provisions also stipulate detailed processes for loan applications and fiscal management, reinforcing accountability and transparency in the use of public funds allocated to transportation projects.

Summary

SB1350 proposes the creation of the Texas Transportation Revolving Fund, aimed at enhancing the financing mechanisms for transportation projects within the state. This fund would enable the issuance of revenue bonds to finance the fund's initiatives, facilitating loans and other forms of financial assistance to public and private entities working on transportation infrastructure. The bill is part of a broader strategy to improve the management of transportation funds and ensure the availability of financial resources for vital projects such as highway maintenance and public transport enhancements. Furthermore, the bill establishes the Texas Transportation Commission as the overseeing body for the fund's administration and operations.

Contention

While the introduction of SB1350 signifies a proactive step towards enhancing state transportation infrastructure, potential points of contention include concerns about the financial burden that loan repayments could impose on local entities and taxpayers. Critics might question the implications of relying on bond financing for transportation projects, particularly if revenues from completed projects are insufficient to cover the repayment requirements. Balancing state-level initiatives with local needs will be crucial to ensure that the creation of the Texas Transportation Revolving Fund serves the best interests of both state infrastructure goals and the communities impacted by these projects.