Texas 2015 - 84th Regular

Texas House Bill HB122 Compare Versions

Version 1 (Old)

Version 2 (New)

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1		-	By: Pickett (Senate Sponsor - Nichols) H.B. No. 122
2		-	(In the Senate - Received from the House April 13, 2015;
3		-	April 23, 2015, read first time and referred to Committee on
4		-	Transportation; May 12, 2015, reported favorably by the following
5		-	vote: Yeas 9, Nays 0; May 12, 2015, sent to printer.)
6		-	Click here to see the committee vote
	1	+	H.B. No. 122
7	2
8	3
9		-	A BILL TO BE ENTITLED
10	4		AN ACT
11	5		relating to the Texas Mobility Fund.
12	6		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
13	7		SECTION 1. Sections 201.943(a) and (l), Transportation
14	8		Code, are amended to read as follows:
15	9		(a) Subject to Subsections (e), (f), [and] (g), and (l), the
16	10		commission by order or resolution may issue obligations in the name
17	11		and on behalf of the state and the department and may enter into
18	12		credit agreements related to the obligations. The obligations may
19	13		be issued in multiple series and issues from time to time in an
20	14		aggregate amount not exceeding the maximum obligation amount. The
21	15		obligations may be issued on and may have the terms and provisions
22	16		the commission determines appropriate and in the interests of the
23	17		state. The obligations may be issued as long-term obligations,
24	18		short-term obligations, or both. The latest scheduled maturity of
25	19		an issue or series of obligations may not exceed 30 years.
26	20		(l) Except as otherwise provided by this subsection,
27	21		obligations [Obligations] may not be issued under this section or
28	22		Section 49-k, Article III, Texas Constitution, after January 1,
29	23		2015 [if the commission or the department requires that toll roads
30	24		be included in a regional mobility plan in order for a local
31	25		authority to receive an allocation from the fund]. The commission
32	26		may issue obligations to refund:
33	27		(1) outstanding obligations to provide savings to the
34	28		state; and
35	29		(2) outstanding variable rate obligations and may
36	30		renew or replace credit agreements relating to the variable rate
37	31		obligations.
38	32		SECTION 2. Section 201.946(d), Transportation Code, is
39	33		amended to read as follows:
40	34		(d) To the extent money is on deposit in the fund in amounts
41	35		that are in excess of the money required by the proceedings
42	36		authorizing the obligations and credit agreements to be retained on
43	37		deposit, the commission may use the money for any purpose for which
44	38		obligations may be issued under this subchapter, other than for
45	39		toll roads.
46	40		SECTION 3. This Act takes effect immediately if it receives
47	41		a vote of two-thirds of all the members elected to each house, as
48	42		provided by Section 39, Article III, Texas Constitution. If this
49	43		Act does not receive the vote necessary for immediate effect, this
50	44		Act takes effect September 1, 2015.
51		-	* * * * *
	45	+	______________________________ ______________________________
	46	+	President of the Senate Speaker of the House
	47	+	I certify that H.B. No. 122 was passed by the House on April
	48	+	9, 2015, by the following vote: Yeas 128, Nays 0, 2 present, not
	49	+	voting.
	50	+	______________________________
	51	+	Chief Clerk of the House
	52	+	I certify that H.B. No. 122 was passed by the Senate on May
	53	+	19, 2015, by the following vote: Yeas 30, Nays 1.
	54	+	______________________________
	55	+	Secretary of the Senate
	56	+	APPROVED: _____________________
	57	+	Date
	58	+	_____________________
	59	+	Governor