87R20346 CXP-F
By: Canales, Cyrier, Rodriguez H.B. No. 3467
Substitute the following for H.B. No. 3467:
By: Martinez C.S.H.B. No. 3467
A BILL TO BE ENTITLED
AN ACT
relating to the amendment of an existing comprehensive development
agreement for a portion of 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 (i), (j), and (k) to read as follows:
(i) Notwithstanding Subsection (h), the department shall
amend 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) to extend the term of
the agreement for an additional 20 years if the amendment:
(1) outlines the benefit the state will derive from
extending the term; and
(2) requires the private participant to provide funds
to the department in an amount agreed to by the department and the
private participant.
(j) The amount of funds provided by the private participant
under Subsection (i)(2) must take into account a traffic and
revenue study using:
(1) toll escalation rates consistent with the
comprehensive development agreement described by Subsection (i)
and calculated based on:
(A) the most recent gross state product forecasts
published by the 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 since 2015 for the
project that is the subject of the comprehensive development
agreement described by Subsection (i);
(B) population growth forecasts for the counties
in which the project that is the subject of the comprehensive
development agreement described by Subsection (i) is located,
prepared by the metropolitan planning organizations in which the
project is located; and
(C) long-term demographic forecasts based on the
most recent state population forecasts published by the Texas Water
Development Board.
(k) The funds received under Subsection (i)(2) must be used
by the commission or the department to finance the construction,
maintenance, or operation of transportation projects or air quality
projects in the department districts located in the boundaries of
the metropolitan planning organization in which the project that is
the subject of the comprehensive development agreement described by
Subsection (i) is located. The department shall allocate funds to
the department districts based on the percentage of toll revenue
from users from each of those department districts.
SECTION 2. This Act takes effect September 1, 2021.