TX
Texas Senate Bill SB293

Texas 2009 - 81st Regular

Texas Senate Bill SB293

Filed
11/13/08  
Out of Senate Committee
3/9/09  
Voted on by Senate
3/19/09  
Out of House Committee
5/4/09  
Voted on by House
5/5/09  
Governor Action
5/19/09  
Bill Becomes Law
 
Enrolled
5/6/09  

Caption

Relating to the pledge of certain revenue of a regional transportation authority to the payment of bonds.

Impact

By allowing transportation authorities to pledge their revenue more broadly and establish a first lien on the necessary funds, SB293 strengthens their financial position. This is intended to facilitate greater investment in infrastructure and public transportation systems across Texas. The amendments may lead to an increase in bond financing, which can improve service offerings and infrastructure development, ultimately enhancing public transit accessibility and reliability for Texas residents.

Summary

Senate Bill 293 (SB293) addresses financial mechanisms available to regional transportation authorities in Texas, specifically regarding the pledge of revenue to support the payment of bonds. The bill amends existing provisions in the Transportation Code to clarify that authorities may pledge various types of revenue, including tax revenue, public transportation system revenue, and federal grants. This flexibility aims to enhance the financial capability of transportation authorities for bond issuance, ensuring the stability and longevity of public transportation projects.

Contention

While the bill is predominantly focused on financial restructuring, it may evoke discussions regarding the prioritization of public transport funding over other community needs. Some stakeholders may raise concerns about how the pledging of revenue might limit the financial flexibility of transportation authorities, potentially affecting operational funding and other crucial services that are vital for the public. The balance between leveraging current revenues for future growth versus maintaining immediate operational capabilities could be a point of contention among legislators and community advocates.

Companion Bills

TX HB2738

Identical Relating to the pledge of certain revenue of a regional transportation authority to the payment of bonds.

Previously Filed As

TX SB1167

Relating to the authority of certain municipalities to receive certain tax revenue derived from a hotel and convention center project and to pledge certain tax revenue for the payment of obligations related to the project.

TX HB2282

Relating to the use of hotel occupancy tax revenue by certain municipalities and counties and the authority of certain municipalities to receive certain tax revenue derived from a hotel and convention center project and to pledge certain tax revenue for the payment of obligations related to the project.

TX SB940

Relating to the use of hotel occupancy tax revenue by certain municipalities and counties and the authority of certain municipalities to receive certain tax revenue derived from a hotel and convention center project and to pledge certain tax revenue for the payment of obligations related to the project.

TX HB5321

Relating to the authority of the East Montgomery County Improvement District to receive certain tax revenue derived from a hotel and convention center project and to pledge certain tax revenue for the payment of obligations related to the project.

TX HB3728

Relating to the authority of certain municipalities to receive certain tax revenue derived from a hotel and convention center project and to pledge certain tax revenue for the payment of obligations related to the project.

TX SB720

Relating to the authority of certain municipalities to receive certain tax revenue derived from a hotel and convention center project and to pledge certain tax revenue for the payment of obligations related to the project.

TX SB847

Relating to authorizing the issuance of revenue bonds for certain capital projects at The University of Texas at El Paso.

TX SB2369

Relating to the reliability and resiliency of the power grid in this state; authorizing the issuance of revenue bonds.

TX HB2449

Relating to the creation of the Dallas Municipal Management District; providing authority to issue bonds; providing authority to impose assessments and fees.

TX HB5282

Relating to the creation of the Dallas Municipal Management District; providing authority to issue bonds; providing authority to impose assessments and fees.

Similar Bills

No similar bills found.