| 4 | 6 | | AN ACT |
|---|
| 5 | 7 | | relating to certain local government corporations created for the |
|---|
| 6 | 8 | | development, construction, operation, management, or financing of |
|---|
| 7 | 9 | | transportation projects. |
|---|
| 8 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 9 | 11 | | SECTION 1. Subchapter D, Chapter 431, Transportation Code, |
|---|
| 10 | 12 | | is amended by adding Section 431.1015 to read as follows: |
|---|
| 11 | 13 | | Sec. 431.1015. CORPORATIONS OF CERTAIN COUNTIES FOR TOLL |
|---|
| 12 | 14 | | PROJECTS. (a) Notwithstanding Chapter 284 or any other law, a |
|---|
| 13 | 15 | | county with a population of more than four million may not create a |
|---|
| 14 | 16 | | local government corporation under this chapter to develop, |
|---|
| 15 | 17 | | construct, operate, manage, or finance a toll project or system |
|---|
| 16 | 18 | | located in the county. |
|---|
| 17 | 19 | | (b) An existing local government corporation created by a |
|---|
| 18 | 20 | | county described by Subsection (a) for the purposes described by |
|---|
| 19 | 21 | | that subsection: |
|---|
| 20 | 22 | | (1) may not: |
|---|
| 21 | 23 | | (A) undertake any new bonds, notes, or other |
|---|
| 22 | 24 | | obligations or extend the terms of any existing bonds, notes, or |
|---|
| 23 | 25 | | other obligations; or |
|---|
| 24 | 26 | | (B) enter into any new contracts or extend the |
|---|
| 25 | 27 | | terms of any existing contracts; and |
|---|
| 26 | 28 | | (2) must be dissolved when all bonds, notes, and other |
|---|
| 27 | 29 | | obligations and contracts of the corporation have been satisfied. |
|---|
| 28 | 30 | | (c) This subsection and Subsection (b) expire on the date |
|---|
| 29 | 31 | | that the local government corporation described by Subsection (b) |
|---|
| 30 | 32 | | is dissolved. |
|---|
| 31 | 33 | | (d) Notwithstanding any other provision of this chapter, |
|---|
| 32 | 34 | | income earned and revenues received by or from a local government |
|---|
| 33 | 35 | | corporation created to develop, construct, operate, manage, or |
|---|
| 34 | 36 | | finance a toll project or system under Chapter 284 may be used only |
|---|
| 35 | 37 | | to pay the costs of a turnpike project, as defined by Section |
|---|
| 36 | 38 | | 370.003, or a road, street, or highway project as provided for under |
|---|
| 37 | 39 | | Section 284.0031. |
|---|
| 38 | 40 | | SECTION 2. This Act takes effect immediately if it receives |
|---|
| 39 | 41 | | a vote of two-thirds of all the members elected to each house, as |
|---|
| 40 | 42 | | provided by Section 39, Article III, Texas Constitution. If this |
|---|
| 41 | 43 | | Act does not receive the vote necessary for immediate effect, this |
|---|
| 42 | 44 | | Act takes effect September 1, 2021. |
|---|
| 43 | | - | ______________________________ ______________________________ |
|---|
| 44 | | - | President of the Senate Speaker of the House |
|---|
| 45 | | - | I hereby certify that S.B. No. 1727 passed the Senate on |
|---|
| 46 | | - | April 19, 2021, by the following vote: Yeas 31, Nays 0. |
|---|
| 47 | | - | ______________________________ |
|---|
| 48 | | - | Secretary of the Senate |
|---|
| 49 | | - | I hereby certify that S.B. No. 1727 passed the House on |
|---|
| 50 | | - | May 18, 2021, by the following vote: Yeas 136, Nays 1, two present |
|---|
| 51 | | - | not voting. |
|---|
| 52 | | - | ______________________________ |
|---|
| 53 | | - | Chief Clerk of the House |
|---|
| 54 | | - | Approved: |
|---|
| 55 | | - | ______________________________ |
|---|
| 56 | | - | Date |
|---|
| 57 | | - | ______________________________ |
|---|
| 58 | | - | Governor |
|---|