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