Texas 2009 - 81st Regular

Texas Senate Bill SB1353 Compare Versions

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1	1	By: Carona S.B. No. 1353
2	2
3	3
4	4	A BILL TO BE ENTITLED
5	5	AN ACT
6	6	relating to contract provisions in comprehensive development
7	7	agreements.
8	8	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	9	SECTION 1. Subchapter C, Chapter 371, Transportation Code,
10	10	as added by Chapter 264 (S.B. 792), Acts of the 80th Legislature,
11	11	Regular Session, 2007, is amended by adding Section 371.105 to read
12	12	as follows:
13	13	Sec. 371.105. PROHIBITION AGAINST CONCESSION PAYMENTS;
14	14	REVENUE SHARING. (a) In this section, "concession payment" means
15	15	an up-front payment made by a private participant in return for
16	16	which the private participant is granted a right to operate and
17	17	receive revenue from a toll project.
18	18	(b) A toll project entity is prohibited from accepting a
19	19	concession payment as part of a comprehensive development
20	20	agreement.
21	21	(c) A toll project entity may enter into a revenue sharing
22	22	agreement with a private participant as part of a comprehensive
23	23	development agreement.
24	24	(d) This section does not apply to:
25	25	(1) the State Highway 161 project from State Highway
26	26	183 to Interstate Highway 20 in Dallas County;
27	27	(2) the United States Highway 281 project in Bexar
28	28	County from Loop 1604 to the Comal County line;
29	29	(3) the Loop 49 project from Interstate Highway 20 to
30	30	State Highway 110 in Smith County;
31	31	(4) the DFW Connector project in Tarrant and Dallas
32	32	Counties (State Highway 114 from State Highway 114L Business to
33	33	east of International Parkway and State Highway 121 from north of
34	34	Farm-to-Market Road 2499 to south of State Highway 360);
35	35	(5) the North Tarrant Express project in Tarrant and
36	36	Dallas Counties (Interstate Highway 820 and State Highway 121/State
37	37	Highway 183 from Interstate Highway 35W to State Highway 161,
38	38	Interstate Highway 820 east from State Highway 121/State Highway
39	39	183 to Randol Mill Road, and Interstate Highway 35W from Interstate
40	40	Highway 30 to State Highway 170);
41	41	(6) the United States Highway 290 project from east of
42	42	United States Highway 183 to east of Farm-to-Market Road 973 in
43	43	Travis County;
44	44	(7) the State Highway 99 (Grand Parkway) project;
45	45	(8) the Interstate Highway 635 managed lanes project
46	46	in Dallas County (Interstate Highway 635 from east of Luna Road to
47	47	Greenville Avenue and Interstate Highway 35E from south of the Loop
48	48	12/Interstate Highway 35E split to south of Valwood Parkway);
49	49	(9) Phase 4 extension of the Dallas North Tollway in
50	50	Collin and Denton Counties from United States Highway 380 to the
51	51	Grayson County line to be developed by North Texas Tollway
52	52	Authority;
53	53	(10) the Southwest Parkway (State Highway 121) in
54	54	Tarrant County from south of Dirks Road/Altamesa Boulevard to
55	55	Interstate Highway 30; or
56	56	(11) a comprehensive development agreement in
57	57	connection with a project associated with any portion of the Loop 9
58	58	project that is located in a nonattainment air quality area as
59	59	designated by the United States Environmental Protection Agency
60	60	that includes two adjacent counties that each have a population of
61	61	one million or more.
62	62	SECTION 2. Subsection (a), Section 371.151, Transportation
63	63	Code, as added by Chapter 264 (S.B. 792), Acts of the 80th
64	64	Legislature, Regular Session, 2007, is amended to read as follows:
65	65	(a) Before a toll project entity enters into a contract for
66	66	the construction of a toll project, the entity shall publish in the
67	67	manner provided by Section 371.152 information regarding:
68	68	(1) project financing, including:
69	69	(A) the total amount of debt that has been and
70	70	will be assumed to acquire, design, construct, operate, and
71	71	maintain the toll project;
72	72	(B) a description of how the debt will be repaid,
73	73	including a projected timeline for repaying the debt; and
74	74	(C) the projected amount of interest that will be
75	75	paid on the debt;
76	76	(2) whether the toll project will continue to be
77	77	tolled after the debt has been repaid;
78	78	(3) a description of the method that will be used to
79	79	set toll rates;
80	80	(4) a description of any terms in the contract
81	81	relating to competing facilities, including any penalties
82	82	associated with the construction of a competing facility;
83	83	(5) a description of any terms in the contract
84	84	relating to a termination for convenience provision, including any
85	85	information regarding how the value of the project will be
86	86	calculated for the purposes of making termination payments;
87	87	(6) the initial toll rates, the methodology for
88	88	increasing toll rates, and the projected toll rates at the end of
89	89	the term of the contract; and
90	90	(7) the terms of any revenue sharing agreement [the
91	91	projected total amount of concession payments].
92	92	SECTION 3. (a) The changes in law made by Section 371.151,
93	93	Transportation Code, as amended by this Act, and Section 371.105,
94	94	Transportation Code, as added by this Act, apply only to a
95	95	comprehensive development agreement entered into on or after the
96	96	effective date of this Act.
97	97	(b) A comprehensive development agreement entered into
98	98	before the effective date of this Act is governed by the law in
99	99	effect on the day the agreement was finalized, and the former law is
100	100	continued in effect for that purpose.
101	101	SECTION 4. This Act takes effect September 1, 2009.