By: Canales H.B. No. 3467
A BILL TO BE ENTITLED
AN ACT
relating to the amendment of an existing comprehensive development
agreement for State Highway 130.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 223.208, Transportation Code, is amended
by adding Subsections (h-1), (h-2), and (h-3) to read as follows:
(h-1) Notwithstanding Subsection (h), a comprehensive
development agreement entered into on or before March 22, 2007, for
State Highway 130 from U.S. Highway 183 to Interstate Highway 10
(Segments 5 and 6) shall be amended to extend the term of the
comprehensive development agreement for an additional 20 years if
the amendment:
(1) outlines the benefit the state will derive from
extending the term of the agreement; and
(2) requires the private participant to provide funds
to the department in an amount agreed to by the department and the
private participant.
(h-2) The amount of funds provided by the private
participant under Subsection (h-1)(2) shall take into account a
traffic and revenue study using:
(1) toll escalation rates consistent with the
comprehensive development agreement described in Subsection (h-1)
and calculated based on
(A) the most recent gross state product forecasts
published by the Texas State Comptroller; and
(B) third-party market-based inflation forecasts
produced by a nationally recognized government agency or financial
institution; and
(2) transaction growth rates based exclusively on:
(A) transaction growth rates for the facility
described in Subsection (h-1) since 2015;
(B) population growth forecasts of the counties
in which the facility described in Subsection (h-1) is located,
prepared by the metropolitan planning organizations in which the
facility is located; and
(C) long-term demographic forecasts based on the
most recent state population forecasts published by the Texas Water
Development Board.
(h-3) The department shall use funds received under
Subsection (h-1)(2) to finance the construction, maintenance, or
operation of transportation projects on the state highway system.
SECTION 2. This Act takes effect September 1, 2021.