86R12364 SLB-D
By: Deshotel H.B. No. 3850
A BILL TO BE ENTITLED
AN ACT
relating to the funding of certain ship channel improvements.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 56.001(1), Transportation Code, is
amended to read as follows:
(1) "Board [Commission]" means the Texas Water
Development Board [Transportation Commission].
SECTION 2. Sections 56.002(a), (b), and (c), Transportation
Code, are amended to read as follows:
(a) The ship channel improvement revolving fund is an
account in the general revenue fund. The fund is administered by
the board [commission].
(b) The following money shall be credited to the fund:
(1) money the board [commission] receives as a gift,
grant, or donation for a purpose of this chapter;
(2) money appropriated to the board [commission] for
the purposes of this chapter;
(3) money received by the board [commission] for the
repayment of a loan made by the program established under Section
56.003; and
(4) interest earned on deposits and investments of the
fund.
(c) Money in the fund may be appropriated only to the board
[commission] for the purposes of administering the fund and the
program established under Section 56.003.
SECTION 3. Sections 56.003(a) and (b), Transportation Code,
are amended to read as follows:
(a) The board [commission] by rule shall establish a
revolving loan program to use money from the fund to finance
qualified projects for navigation districts.
(b) To be a qualified project, a project must:
(1) deepen or widen a ship channel;
(2) be authorized by the United States Congress
through the Water Resources Development Act; and
(3) meet any other standards provided by board
[commission] rule.
SECTION 4. This Act takes effect September 1, 2019.