| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 85R6719 JTS-F | |
| 2 | 2 | By: Wray H.B. No. 2164 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the use of private activity bonds to finance high-speed | |
| 8 | 8 | rail service. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Subchapter A, Chapter 1372, Government Code, is | |
| 11 | 11 | amended by adding Section 1372.007 to read as follows: | |
| 12 | 12 | Sec. 1372.007. PROHIBITED USE OF BONDS: HIGH-SPEED RAIL. | |
| 13 | 13 | Notwithstanding any other provision of this chapter, private | |
| 14 | 14 | activity bonds may not be issued to finance, wholly or partly, the | |
| 15 | 15 | construction of facilities for or the operation of high-speed rail | |
| 16 | 16 | service between two municipalities in this state that is capable of | |
| 17 | 17 | operating at speeds greater than 100 miles per hour. | |
| 18 | 18 | SECTION 2. This Act takes effect immediately if it receives | |
| 19 | 19 | a vote of two-thirds of all the members elected to each house, as | |
| 20 | 20 | provided by Section 39, Article III, Texas Constitution. If this | |
| 21 | 21 | Act does not receive the vote necessary for immediate effect, this | |
| 22 | 22 | Act takes effect September 1, 2017. |