Texas Senate Bill SB263

Texas 2009 - 81st Regular

• Filed: 11/12/08
• Out of Senate Committee: 4/17/09
• Voted on by Senate: 4/22/09
• Out of House Committee: 5/18/09

Caption

Relating to the issuance by the Texas Transportation Commission of general obligation bonds for highway improvement projects.

Impact

If passed, SB263 would explicitly allow the Texas Transportation Commission to leverage bonding as a financial instrument to address highway improvement needs without imposing immediate tax burdens on citizens. This could facilitate faster project implementation by providing upfront capital, enabling quicker response to the growing demands on the state's transportation network. The legislative framework also indicates that the bonds will have conditions to safeguard taxpayers' interests, as the principal and interest are to be paid by the state comptroller as they become due.

Summary

SB263 proposes the issuance of general obligation bonds by the Texas Transportation Commission to fund various highway improvement projects throughout the state. This legislation aims to provide a structured financial approach to enhance transportation infrastructure, which is a key component of state economic development. The bill outlines key regulations regarding the issuance, usage, and management of these bonds, ensuring that all proceeds are allocated solely for the intended highway projects and related costs.

Contention

There may be potential debates surrounding this bill, particularly regarding the management of public debt and the prioritization of transportation projects. Some legislators and stakeholders might express concerns about over-reliance on debt financing, arguing it could lead to future fiscal strain if not managed appropriately. Additionally, discussions could arise regarding the selection criteria for which highway projects receive funding, raising questions about transparency and equity in project prioritization.