Texas 2011 - 82nd Regular

Texas House Bill HB1724 Compare Versions

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Old	New	Differences
1	1	82R20907 JTS-D
2	2	By: Hamilton H.B. No. 1724
3	3	Substitute the following for H.B. No. 1724:
4	4	By: Phillips C.S.H.B. No. 1724
5	5
6	6
7	7	A BILL TO BE ENTITLED
8	8	AN ACT
9	9	relating to economically driven mobility projects.
10	10	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	11	SECTION 1. Subchapter M, Chapter 201, Transportation Code,
12	12	is amended by adding Section 201.948 to read as follows:
13	13	Sec. 201.948. ECONOMICALLY DRIVEN MOBILITY PROJECT
14	14	ACCOUNT. (a) The economically driven mobility project account is
15	15	an account in the fund. The account consists of revenue received
16	16	from projects financed under this section and proceeds from
17	17	obligations secured by revenue received from those projects. Money
18	18	in the account may be used only to finance projects authorized under
19	19	Section 201.943(d) and selected as economically driven using the
20	20	process and criteria developed under this section.
21	21	(b) The department by rule shall develop a process and
22	22	criteria for project review and selection using established
23	23	economic principles for evaluating projects.
24	24	(c) The review process must evaluate projects based on
25	25	established commercial economic development standards for
26	26	evaluating the return on investment.
27	27	(d) Project selection criteria must prioritize projects
28	28	that:
29	29	(1) promote economic development, including by
30	30	creating employment and cash flow;
31	31	(2) have sustainable economic value; and
32	32	(3) enhance mobility and connectivity as opposed to
33	33	promoting isolated projects.
34	34	(e) The department shall develop a project application
35	35	process for local transportation planning entities, including
36	36	municipalities, counties, metropolitan planning organizations,
37	37	toll project entities as defined by Section 372.001, and public
38	38	transportation entities under Subtitle K, to identify projects
39	39	suitable for funding under this section.
40	40	(f) The department may contract with local governments or
41	41	private entities for the construction of selected projects,
42	42	including construction through pass-through toll agreements under
43	43	Section 222.104, or may construct projects itself.
44	44	(g) Revenue from projects financed under this section must
45	45	be deposited to the credit of the economically driven mobility
46	46	project account. The department may contract with local
47	47	governments or directly with private entities, including property
48	48	owners, who will benefit from a selected project to recover amounts
49	49	sufficient to cover the cost of the project and any associated debt
50	50	service for the project. Revenue may include:
51	51	(1) payments under a project cost participation
52	52	agreement with a local government or private entity;
53	53	(2) tax increment recovered from a transportation
54	54	reinvestment zone; and
55	55	(3) other revenue derived from the increase of value
56	56	attributable to a project financed under this section.
57	57	(h) Motor fuels tax revenue may not be used for the
58	58	development of a project under this section.
59	59	SECTION 2. The Texas Department of Transportation shall
60	60	establish the process and criteria for the selection of
61	61	economically driven mobility projects as required by Section
62	62	201.948, Transportation Code, as added by this Act, not later than
63	63	September 1, 2012.
64	64	SECTION 3. This Act takes effect September 1, 2011.