| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 85R9891 MTB-D | |
| 2 | 2 | By: Oliveira H.B. No. 2197 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the creation of a port capital project revolving loan | |
| 8 | 8 | program by the Texas Department of Transportation. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Chapter 55, Transportation Code, is amended by | |
| 11 | 11 | adding Section 55.010 to read as follows: | |
| 12 | 12 | Sec. 55.010. PORT CAPITAL PROJECT REVOLVING LOAN PROGRAM. | |
| 13 | 13 | (a) The department shall establish a revolving loan program to | |
| 14 | 14 | provide loans to port authorities and navigation districts for port | |
| 15 | 15 | security projects, transportation projects, and other projects | |
| 16 | 16 | eligible for funding under Section 55.002(c). The department by | |
| 17 | 17 | rule shall, after consideration of the committee's | |
| 18 | 18 | recommendations, develop policies and procedures to administer the | |
| 19 | 19 | loan program from funds appropriated to the department for that | |
| 20 | 20 | purpose. | |
| 21 | 21 | (b) The department shall enter into a written agreement with | |
| 22 | 22 | a port authority or navigation district that receives a loan under | |
| 23 | 23 | the program that contains the terms of the loan, including loan | |
| 24 | 24 | repayment requirements. | |
| 25 | 25 | SECTION 2. This Act takes effect September 1, 2017. |