86R3182 JTS-D
By: Bell of Montgomery H.B. No. 1234
A BILL TO BE ENTITLED
AN ACT
relating to the filing of a bond by a private high-speed rail
operator with the Texas Department of Transportation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 112, Transportation Code,
is amended by adding Section 112.063 to read as follows:
Sec. 112.063. BOND FOR RESTORATION OF REAL PROPERTY USED BY
PRIVATE HIGH-SPEED RAIL OPERATOR. (a) In this section,
"high-speed rail service" means intercity passenger rail service
that is reasonably expected to reach speeds of at least 110 miles
per hour.
(b) Before a private entity begins operation of high-speed
rail service, including the extension of an existing service, the
entity must file with the department a bond in an amount determined
by the commission to be sufficient to restore real property used for
the service to its original condition if the service ceases
operation.
SECTION 2. This Act takes effect September 1, 2019.