| 1 | 1 | | 88R1983 DRS-D |
|---|
| 2 | 2 | | By: Bell of Montgomery H.B. No. 366 |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | A BILL TO BE ENTITLED |
|---|
| 6 | 6 | | AN ACT |
|---|
| 7 | 7 | | relating to the filing of a bond by a private high-speed rail |
|---|
| 8 | 8 | | operator with the Texas Department of Transportation. |
|---|
| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 10 | 10 | | SECTION 1. Subchapter B, Chapter 112, Transportation Code, |
|---|
| 11 | 11 | | is amended by adding Section 112.063 to read as follows: |
|---|
| 12 | 12 | | Sec. 112.063. BOND FOR RESTORATION OF REAL PROPERTY USED BY |
|---|
| 13 | 13 | | PRIVATE HIGH-SPEED RAIL OPERATOR. (a) In this section, |
|---|
| 14 | 14 | | "high-speed rail" has the meaning assigned by Section 112.201. |
|---|
| 15 | 15 | | (b) Before a private entity begins operation of high-speed |
|---|
| 16 | 16 | | rail, including the extension of an existing service, the entity |
|---|
| 17 | 17 | | must file with the department a bond in an amount determined by the |
|---|
| 18 | 18 | | commission to be sufficient to restore real property used for the |
|---|
| 19 | 19 | | service to its original condition if the service ceases operation. |
|---|
| 20 | 20 | | SECTION 2. This Act takes effect September 1, 2023. |
|---|