Texas House Bill HB3363

Texas 2013 - 83rd Regular

Caption

Relating to the issuance of general obligation bonds by the Texas Transportation Commission to fund state highways, publicly owned toll roads, and other publicly owned transportation projects.

Impact

If enacted, HB3363 would significantly impact state laws regarding the financing of transportation projects by granting the Texas Transportation Commission the authority to issue bonds that can mature in as long as 100 years. These bonds would be used to finance not only highways but also publicly owned toll roads and other transportation projects. Additionally, the bill reinforces the commission's role in implementing Section 49-q of the Texas Constitution, enhancing its authority in managing state transportation projects.

Summary

House Bill 3363 proposes the issuance of general obligation bonds by the Texas Transportation Commission specifically to fund state highways, publicly owned toll roads, and other transportation projects that serve the public. The legislation aims to facilitate the construction, reconstruction, and expansion of essential transportation infrastructure to enhance mobility and safety within the state. It allows the commission the flexibility to enter into credit agreements to manage the financial aspects of the bonds effectively.

Sentiment

The sentiment surrounding HB3363 appears to be largely positive among proponents of infrastructure development. Supporters argue that the bill is crucial for addressing the growing transportation needs of Texas and that investing in infrastructure will catalyze economic growth and improve public safety. However, there may be concerns regarding the long-term financial implications of such bond issuance, especially about how they are repaid and the potential impact on state finances.

Contention

While there seems to be broad support for improved transportation funding, some contention exists regarding the scope of the bonds and how the funds will be allocated. Detractors may question whether the introduction of such bonds could lead to increased debt burdens for the state and future taxpayers. Others may raise concerns about ensuring accountability in how the funds are utilized, thus arguing for more stringent oversight mechanisms to accompany the bond issuance.