Texas 2023 - 88th Regular

Texas House Bill HB3812 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New	Differences
1	1	88R8154 KJE-D
2	2	By: Jetton H.B. No. 3812
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the establishment and use of the Texas Infrastructure
8	8	Fund.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Chapter 403, Government Code, is amended by
11	11	adding Subchapter U to read as follows:
12	12	SUBCHAPTER U. TEXAS INFRASTRUCTURE FUND
13	13	Sec. 403.651. DEFINITION. In this subchapter, "fund" means
14	14	the Texas Infrastructure Fund.
15	15	Sec. 403.652. TEXAS INFRASTRUCTURE FUND. (a) The Texas
16	16	Infrastructure Fund is established as a fund in the state treasury
17	17	outside the general revenue fund.
18	18	(b) The fund consists of:
19	19	(1) money appropriated to the credit of the fund; and
20	20	(2) the interest and other earnings attributable to
21	21	the investment of money in the fund.
22	22	(c) Money in the fund may be appropriated only to the
23	23	comptroller for the purpose of awarding grants to public or private
24	24	entities for infrastructure projects under this subchapter,
25	25	including infrastructure projects involving:
26	26	(1) water, ports, or other marine infrastructure;
27	27	(2) broadband;
28	28	(3) highways, toll roads, or bridges;
29	29	(4) aviation;
30	30	(5) rail; or
31	31	(6) other transit infrastructure.
32	32	Sec. 403.653. OVERSIGHT COMMITTEE. (a) The comptroller
33	33	shall establish an oversight committee to make recommendations to
34	34	the comptroller regarding the awarding of grants from money
35	35	appropriated from the fund.
36	36	(b) The oversight committee is composed of the following
37	37	seven members:
38	38	(1) the governor or the governor's designee;
39	39	(2) the lieutenant governor or the lieutenant
40	40	governor's designee;
41	41	(3) the speaker of the house of representatives or the
42	42	speaker's designee;
43	43	(4) the commissioner of the General Land Office or the
44	44	commissioner's designee;
45	45	(5) the comptroller or the comptroller's designee;
46	46	(6) the executive director of the Texas Department of
47	47	Transportation or the executive director's designee; and
48	48	(7) the chief financial officer of the Texas
49	49	Department of Transportation or the officer's designee.
50	50	Sec. 403.654. AWARD OF GRANTS. To the extent practicable,
51	51	the comptroller shall award grants from money appropriated from the
52	52	fund in a manner that:
53	53	(1) takes into account the recommendations made to the
54	54	comptroller by the oversight committee under Section 403.653;
55	55	(2) ensures that the amount awarded for a specific
56	56	type of infrastructure project does not exceed 50 percent of the
57	57	amount appropriated from the fund; and
58	58	(3) promotes and supports public-private partnerships
59	59	that the comptroller determines:
60	60	(A) are financially viable;
61	61	(B) will diversify the methods of financing
62	62	available for infrastructure projects; and
63	63	(C) will reduce reliance on the issuance of
64	64	general obligation bonds supported with state general revenue.
65	65	Sec. 403.655. RULES. (a) The comptroller shall adopt rules
66	66	regarding the awarding of grants from money appropriated from the
67	67	fund, including rules regarding:
68	68	(1) eligibility criteria for grant applicants;
69	69	(2) grant application procedures;
70	70	(3) criteria for evaluating grant applications and
71	71	awarding grants;
72	72	(4) guidelines related to grant amounts; and
73	73	(5) procedures for monitoring the use of a grant and
74	74	ensuring compliance with any conditions of the grant.
75	75	(b) The rules adopted under Subsection (a) may include rules
76	76	requiring a grantee to provide matching funds as a condition of the
77	77	grant.
78	78	SECTION 2. This Act takes effect September 1, 2023.