TX
Texas House Bill HB3467

Texas 2021 - 87th Regular

Texas House Bill HB3467 Compare Versions

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1+87R20346 CXP-F
12 By: Canales, Cyrier, Rodriguez H.B. No. 3467
3+ Substitute the following for H.B. No. 3467:
4+ By: Martinez C.S.H.B. No. 3467
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47 A BILL TO BE ENTITLED
58 AN ACT
69 relating to the amendment of an existing comprehensive development
710 agreement for a portion of State Highway 130.
811 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
912 SECTION 1. Section 223.208, Transportation Code, is amended
1013 by adding Subsections (i), (j), and (k) to read as follows:
11- (i) Notwithstanding Subsection (h), the department may
14+ (i) Notwithstanding Subsection (h), the department shall
1215 amend a comprehensive development agreement entered into on or
1316 before March 22, 2007, for State Highway 130 from U.S. Highway 183
1417 to Interstate Highway 10 (Segments 5 and 6) to extend the term of
15- the agreement for an additional 20 years only if:
16- (1) the commission determines in a public meeting that
17- the state will derive a public benefit from extending the term; and
18- (2) the amendment requires the private participant to
19- provide funds to the department in an amount determined by the
20- department.
21- (j) The funds received under Subsection (i)(2) must be used
18+ the agreement for an additional 20 years if the amendment:
19+ (1) outlines the benefit the state will derive from
20+ extending the term; and
21+ (2) requires the private participant to provide funds
22+ to the department in an amount agreed to by the department and the
23+ private participant.
24+ (j) The amount of funds provided by the private participant
25+ under Subsection (i)(2) must take into account a traffic and
26+ revenue study using:
27+ (1) toll escalation rates consistent with the
28+ comprehensive development agreement described by Subsection (i)
29+ and calculated based on:
30+ (A) the most recent gross state product forecasts
31+ published by the comptroller; and
32+ (B) third-party market-based inflation forecasts
33+ produced by a nationally recognized government agency or financial
34+ institution; and
35+ (2) transaction growth rates based exclusively on:
36+ (A) transaction growth rates since 2015 for the
37+ project that is the subject of the comprehensive development
38+ agreement described by Subsection (i);
39+ (B) population growth forecasts for the counties
40+ in which the project that is the subject of the comprehensive
41+ development agreement described by Subsection (i) is located,
42+ prepared by the metropolitan planning organizations in which the
43+ project is located; and
44+ (C) long-term demographic forecasts based on the
45+ most recent state population forecasts published by the Texas Water
46+ Development Board.
47+ (k) The funds received under Subsection (i)(2) must be used
2248 by the commission or the department to finance the construction,
2349 maintenance, or operation of transportation projects or air quality
2450 projects in the department districts located in the boundaries of
2551 the metropolitan planning organization in which the project that is
2652 the subject of the comprehensive development agreement described by
2753 Subsection (i) is located. The department shall allocate funds to
2854 the department districts based on the percentage of toll revenue
2955 from users from each of those department districts.
30- (k) An extension of the term of a comprehensive development
31- agreement made under Subsection (i) is void if the private
32- participant sells, transfers, or otherwise conveys the
33- comprehensive development agreement to another entity.
3456 SECTION 2. This Act takes effect September 1, 2021.