Texas House Bill HB3218

Texas 2011 - 82nd Regular

• Out of House Committee: 4/26/11
• Introduced: 3/10/11
• Refer: 3/18/11
• Report Pass: 4/18/11

Caption

Relating to the administration, financing, and use of the State Infrastructure Bank.

Impact

If enacted, HB3218 will significantly alter how financial assistance is administered for infrastructure projects in Texas. By allowing the State Infrastructure Bank to sell loans and stipulating the terms of repayment, the bill could facilitate more effective use of state and federal funds allocated to transportation projects. This change aims to provide municipalities and public entities with greater flexibility in managing financial support for public works, thereby potentially accelerating project completion times and enhancing overall infrastructure quality.

Summary

House Bill 3218 seeks to establish guidelines for the administration, financing, and use of the State Infrastructure Bank in Texas. The bill proposes amendments to several sections of the Transportation Code, aiming to enhance the state's infrastructure funding mechanisms. Primarily, it defines terms related to the bank's operation, establishes eligibility for financial assistance, and outlines processes for the sale of loans, thereby aiming to streamline infrastructure project financing across the state.

Contention

There may be some contention regarding the potential implications of the bill on local governance and fiscal responsibility. Opponents might raise concerns about the centralization of funding decisions and the risk of over-reliance on state-level financing. While supporters argue that streamlined financial processes will enhance infrastructure development, critics may question the adequacy of oversight mechanisms in place to ensure accountability and the proper use of funds granted through the bank.